Prospector Partners LLC Raises Stock Position in Colgate-Palmolive (NYSE:CL)

Prospector Partners LLC increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,515 shares of the company’s stock after purchasing an additional 970 shares during the period. Colgate-Palmolive accounts for about 1.9% of Prospector Partners LLC’s holdings, making the stock its 17th biggest holding. Prospector Partners LLC’s holdings in Colgate-Palmolive were worth $17,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $25,000. Core Wealth Advisors Inc. increased its stake in Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after buying an additional 146 shares during the period. Rise Advisors LLC acquired a new position in Colgate-Palmolive in the 1st quarter worth $38,000. Continuum Advisory LLC lifted its holdings in Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $40,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $103.06 on Friday. The business has a 50 day simple moving average of $102.71 and a 200 day simple moving average of $95.83. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market capitalization of $84.55 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup boosted their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley increased their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. TD Cowen lifted their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Bank of America increased their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus boosted their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.79.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.