AdvisorNet Financial Inc Decreases Stock Position in Colgate-Palmolive (NYSE:CL)

AdvisorNet Financial Inc reduced its position in Colgate-Palmolive (NYSE:CLGet Rating) by 65.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,059 shares of the company’s stock after selling 7,590 shares during the period. AdvisorNet Financial Inc’s holdings in Colgate-Palmolive were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CL. Norges Bank purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $649,161,000. BlackRock Inc. grew its position in shares of Colgate-Palmolive by 8.4% during the 4th quarter. BlackRock Inc. now owns 65,218,485 shares of the company’s stock valued at $5,565,745,000 after acquiring an additional 5,039,853 shares during the period. Renaissance Technologies LLC grew its position in shares of Colgate-Palmolive by 151.6% during the 1st quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock valued at $431,381,000 after acquiring an additional 3,427,400 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Colgate-Palmolive by 1,915.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,793,287 shares of the company’s stock valued at $135,985,000 after acquiring an additional 1,704,300 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Colgate-Palmolive by 1,334.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 999,783 shares of the company’s stock valued at $75,814,000 after acquiring an additional 930,063 shares during the period. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.4 %

Shares of NYSE CL opened at $76.01 on Tuesday. The firm’s 50-day moving average price is $79.10 and its 200-day moving average price is $78.11. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 14.26. The stock has a market capitalization of $63.40 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 5.42 and a beta of 0.48. Colgate-Palmolive has a 12-month low of $72.20 and a 12-month high of $85.61.

Colgate-Palmolive (NYSE:CLGet Rating) last announced its earnings results on Friday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.35 billion. Colgate-Palmolive had a net margin of 10.98% and a return on equity of 315.10%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.03 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 81.39%.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Colgate-Palmolive from $71.00 to $74.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 2nd. Wells Fargo & Company raised shares of Colgate-Palmolive to an “equal weight” rating in a research report on Tuesday, August 9th. UBS Group upped their target price on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, August 1st. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $79.00 to $78.00 in a report on Thursday, July 21st. Finally, StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Monday. Thirteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.57.

Insider Buying and Selling

In related news, CEO Noel R. Wallace sold 51,665 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $81.27, for a total value of $4,198,814.55. Following the sale, the chief executive officer now directly owns 221,790 shares of the company’s stock, valued at approximately $18,024,873.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Colgate-Palmolive news, insider Prabha Parameswaran sold 48,778 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $78.80, for a total value of $3,843,706.40. Following the transaction, the insider now directly owns 6,787 shares in the company, valued at approximately $534,815.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 51,665 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $81.27, for a total transaction of $4,198,814.55. Following the completion of the transaction, the chief executive officer now owns 221,790 shares in the company, valued at $18,024,873.30. The disclosure for this sale can be found here. Insiders have sold 125,802 shares of company stock valued at $10,100,532 in the last ninety days. 0.31% of the stock is owned by company insiders.

Colgate-Palmolive Company 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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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