BlueMountain Capital Management LLC Has $2.54 Million Position in Colgate-Palmolive Company (CL)
BlueMountain Capital Management LLC increased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 19.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,307 shares of the company’s stock after purchasing an additional 5,495 shares during the period. BlueMountain Capital Management LLC’s holdings in Colgate-Palmolive were worth $2,543,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. American Beacon Advisors Inc. acquired a new position in shares of Colgate-Palmolive during the first quarter worth $102,000. Proficio Capital Partners LLC grew its stake in shares of Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after purchasing an additional 207 shares in the last quarter. OLD Second National Bank of Aurora acquired a new position in shares of Colgate-Palmolive during the second quarter worth $109,000. Hanson & Doremus Investment Management grew its stake in shares of Colgate-Palmolive by 4.5% during the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after purchasing an additional 70 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Colgate-Palmolive during the second quarter worth $122,000. Hedge funds and other institutional investors own 73.87% of the company’s stock.
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A number of equities analysts recently commented on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Macquarie assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. They set a “neutral” rating and a $76.00 target price for the company. Citigroup Inc. lowered their target price on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a research note on Sunday, October 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $76.67.
Shares of Colgate-Palmolive Company (NYSE CL) opened at $71.89 on Friday. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. The company has a market cap of $63,126.96, a PE ratio of 25.05, a PEG ratio of 3.29 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting analysts’ consensus estimates of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. sell-side analysts anticipate that Colgate-Palmolive Company will post 2.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd were issued a $0.40 dividend. The ex-dividend date was Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Colgate-Palmolive’s payout ratio is 61.78%.
In other news, Director Stephen I. Sadove sold 20,780 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the completion of the sale, the director now directly owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria L. Dolan sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $73.41, for a total transaction of $660,690.00. The disclosure for this sale can be found here. Insiders sold 173,673 shares of company stock valued at $12,629,293 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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