Adage Capital Partners GP L.L.C. Reduces Position in Colgate-Palmolive Co. (CL)
Adage Capital Partners GP L.L.C. lowered its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,313,320 shares of the company’s stock after selling 24,500 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.15% of Colgate-Palmolive worth $96,135,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of CL. Osborn Rohs Williams & Donohoe Ltd boosted its position in Colgate-Palmolive by 0.3% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 35,117 shares of the company’s stock worth $2,571,000 after buying an additional 116 shares during the last quarter. Lebenthal Asset Management LLC purchased a new position in Colgate-Palmolive during the first quarter worth $763,000. Cullinan Associates Inc. boosted its position in Colgate-Palmolive by 3.1% in the first quarter. Cullinan Associates Inc. now owns 210,017 shares of the company’s stock worth $14,838,000 after buying an additional 6,378 shares during the last quarter. Phocas Financial Corp. boosted its position in Colgate-Palmolive by 6.9% in the first quarter. Phocas Financial Corp. now owns 7,780 shares of the company’s stock worth $550,000 after buying an additional 500 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Colgate-Palmolive by 2.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 314,840 shares of the company’s stock worth $22,256,000 after buying an additional 6,888 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.33% during trading on Friday, hitting $67.42. 4,008,392 shares of the stock traded hands. The company’s 50 day moving average is $71.72 and its 200 day moving average is $72.53. The firm has a market cap of $59.93 billion, a PE ratio of 44.09 and a beta of 0.73. Colgate-Palmolive Co. has a 52-week low of $61.40 and a 52-week high of $75.38.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 8.96% and a return on equity of 6,924.14%. The firm earned $3.87 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts predict that Colgate-Palmolive Co. will post $2.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.31%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 101.96%.
A number of analysts have recently commented on the stock. B. Riley reissued a “neutral” rating and set a $78.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, November 2nd. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Monday, October 3rd. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $70.86 to $80.00 in a research note on Monday, September 12th. KeyCorp assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, September 8th. They set a “sector weight” rating for the company. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $75.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $76.04.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $72.39, for a total transaction of $277,543.26. Following the completion of the transaction, the insider now directly owns 55,013 shares in the company, valued at approximately $3,982,391.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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