Weiss Multi Strategy Advisers LLC acquired a new position in shares of Colgate-Palmolive (NYSE: CL – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 117,333 shares of the company stock, valued at approximately $ 10,013,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its holdings in shares of Colgate-Palmolive by 359.6% during the 4th quarter. Lazard Asset Management LLC now owns 3,477,341 shares of the company stock worth $ 296,754,000 after buying an additional 2,720,790 shares in the last quarter. Barclays PLC boosted its holdings in shares of Colgate-Palmolive by 55.5% during the 4th quarter. Barclays PLC now owns 6,261,881 shares of the company stock worth $ 534,391,000 after buying an additional 2,235,332 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $ 134,062,000. California Public Employees Retirement System boosted its holdings in shares of Colgate-Palmolive by 21.4% during the 4th quarter. California Public Employees Retirement System now owns 6,037,320 shares of the company stock worth $ 515,225,000 after buying an additional 1,064,282 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Colgate-Palmolive by 27.8% during the 4th quarter. Nordea Investment Management AB now owns 3,973,151 shares of the company stock worth $ 336,566,000 after buying an additional 865,170 shares in the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.
Shares of CL opened at $ 73.92 on Friday. The company has a market cap of $ 61.94 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 5.18 and a beta of 0.56. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 10.42. The stock has a 50-day moving average price of $ 78.24 and a 200-day moving average price of $ 79.10. Colgate-Palmolive has a 12-month low of $ 72.20 and a 12-month high of $ 85.61.
Colgate-Palmolive (NYSE: CL – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $ 0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $ 0.74. The firm had revenue of $ 4.40 billion during the quarter, compared to the consensus estimate of $ 4.40 billion. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. The company revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $ 0.80 EPS. As a group, analysts predict that Colgate-Palmolive will post 3.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Thursday, July 21st will be given a $ 0.47 dividend. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a $ 1.88 dividend on an annualized basis and a yield of 2.54%. Colgate-Palmolive’s payout ratio is 77.69%.
Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 10th that authorizes the company to repurchase $ 5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company board of directors believes its shares are undervalued.
CL has been the topic of a number of recent research reports. Raymond James initiated coverage on Colgate-Palmolive in a report on Thursday, April 7th. They issued a “market perform” rating on the stock. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. The Goldman Sachs Group cut their target price on Colgate-Palmolive from $ 104.00 to $ 95.00 in a report on Tuesday, March 29th. TheStreet upgraded Colgate-Palmolive from a “c +” rating to a “b” rating in a report on Friday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Colgate-Palmolive from $ 91.00 to $ 88.00 in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $ 85.40.
In other Colgate-Palmolive news, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $ 79.34, for a total value of $ 3,967,000.00. Following the transaction, the chief executive officer now directly owns 221,790 shares of the company stock, valued at approximately $ 17,596,818.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Philip G. Shotts sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $ 78.52, for a total value of $ 785,200.00. Following the completion of the transaction, the vice president now directly owns 46,094 shares in the company, valued at $ 3,619,300.88. The disclosure for this sale can be found here. Insiders sold a total of 79,683 shares of company stock valued at $ 6,297,119 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Profile: (Get Rating)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.
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