Prospector Partners LLC Sells 5,325 Shares of Colgate-Palmolive Company $CL

Prospector Partners LLC reduced its position in Colgate-Palmolive Company (NYSE:CL) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,018 shares of the company’s stock after selling 5,325 shares during the quarter. Prospector Partners LLC’s holdings in Colgate-Palmolive were worth $9,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CL. Westside Investment Management Inc. boosted its holdings in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. Copia Wealth Management bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $29,000. Vermillion & White Wealth Management Group LLC boosted its stake in Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after buying an additional 155 shares in the last quarter. Cloud Capital Management LLC bought a new position in Colgate-Palmolive in the third quarter valued at about $30,000. Finally, MTM Investment Management LLC acquired a new position in Colgate-Palmolive during the second quarter worth about $39,000. Institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider John Hazlin sold 20,989 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the transaction, the insider directly owned 17,645 shares in the company, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sally Massey sold 15,851 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the sale, the insider directly owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 184,683 shares of company stock valued at $17,486,693. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $95.52 on Thursday. The stock’s 50 day moving average is $84.94 and its 200 day moving average is $82.11. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The firm has a market cap of $77.00 billion, a P/E ratio of 36.46, a P/E/G ratio of 4.31 and a beta of 0.29. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.42 and a quick ratio of 0.27.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is 79.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Morgan Stanley raised their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research report on Tuesday, December 9th. Finally, Rothschild & Co Redburn set a $93.00 target price on Colgate-Palmolive in a research report on Friday, February 13th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.38.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.