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

Prospector Partners LLC lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,515 shares of the company’s stock after acquiring 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 position. Prospector Partners LLC’s holdings in Colgate-Palmolive were worth $17,032,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive during the 2nd quarter valued at approximately $25,000. Core Wealth Advisors Inc. increased its holdings in shares of Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after purchasing an additional 146 shares during the period. Rise Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $38,000. Continuum Advisory LLC lifted its holdings in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new position in Colgate-Palmolive in the 4th quarter valued at $40,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 1.0 %

CL opened at $103.06 on Friday. The firm has a market cap of $84.55 billion, a P/E ratio of 32.61, a PEG ratio of 3.72 and a beta of 0.40. The business’s fifty day simple moving average is $102.71 and its 200 day simple moving average is $95.83. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on CL. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price objective for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. TD Cowen raised their price objective on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lowered Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price objective on the stock. in a report on Monday, September 16th. Bank of America increased their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, BNP Paribas assumed coverage on Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.