Cubist Systematic Strategies LLC boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 4,590.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,651 shares of the company’s stock after purchasing an additional 238,456 shares during the period. Cubist Systematic Strategies LLC’s holdings in Colgate-Palmolive were worth $17,462,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. VGI Partners Ltd increased its stake in Colgate-Palmolive by 0.9% during the second quarter. VGI Partners Ltd now owns 1,937,412 shares of the company’s stock valued at $138,854,000 after acquiring an additional 17,814 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $1,770,000. Westwood Holdings Group Inc. grew its stake in shares of Colgate-Palmolive by 24.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,568,298 shares of the company’s stock valued at $112,401,000 after purchasing an additional 307,837 shares during the period. Nomura Holdings Inc. grew its stake in shares of Colgate-Palmolive by 166.8% in the 2nd quarter. Nomura Holdings Inc. now owns 119,697 shares of the company’s stock valued at $8,645,000 after purchasing an additional 74,830 shares during the period. Finally, Zurich Insurance Group Ltd FI grew its stake in shares of Colgate-Palmolive by 10.4% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 157,957 shares of the company’s stock valued at $11,321,000 after purchasing an additional 14,855 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CL. Argus upped their price objective on Colgate-Palmolive from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. ValuEngine lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a research note on Friday, June 7th. Citigroup upped their price objective on Colgate-Palmolive from $77.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Co upped their price objective on Colgate-Palmolive from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average target price of $73.87.
In other Colgate-Palmolive news, insider Prabha Parameswaran sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $69.35, for a total transaction of $346,750.00. Following the transaction, the insider now owns 20,893 shares of the company’s stock, valued at approximately $1,448,929.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ian M. Cook sold 19,500 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $72.25, for a total value of $1,408,875.00. Following the transaction, the insider now directly owns 1,147,042 shares in the company, valued at approximately $82,873,784.50. The disclosure for this sale can be found here. Insiders sold a total of 569,298 shares of company stock worth $40,914,565 over the last three months. 1.14% of the stock is owned by company insiders.
Shares of CL traded up $0.13 on Friday, hitting $71.08. The company’s stock had a trading volume of 15,940 shares, compared to its average volume of 2,811,776. The company has a market capitalization of $59.94 billion, a PE ratio of 23.93, a PEG ratio of 4.50 and a beta of 0.75. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.13 and a quick ratio of 0.78. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $76.41. The company has a 50 day moving average price of $72.24 and a 200 day moving average price of $70.98.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 26th. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. Colgate-Palmolive’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, equities analysts forecast that Colgate-Palmolive will post 2.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, October 22nd. Colgate-Palmolive’s payout ratio is currently 57.91%.
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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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