Highbridge Capital Management LLC Sells 977,625 Shares of Colgate-Palmolive (CL)
Highbridge Capital Management LLC lessened its position in shares of Colgate-Palmolive (NYSE:CL) by 72.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,944 shares of the company’s stock after selling 977,625 shares during the quarter. Highbridge Capital Management LLC’s holdings in Colgate-Palmolive were worth $27,606,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in CL. Jacobi Capital Management LLC boosted its stake in Colgate-Palmolive by 125.5% in the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock valued at $104,000 after buying an additional 803 shares in the last quarter. Krilogy Financial LLC boosted its stake in Colgate-Palmolive by 23.0% in the second quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after purchasing an additional 289 shares in the last quarter. Captrust Financial Advisors acquired a new position in Colgate-Palmolive in the second quarter worth $122,000. AlphaMark Advisors LLC boosted its stake in Colgate-Palmolive by 1.5% in the second quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock worth $126,000 after purchasing an additional 25 shares in the last quarter. Finally, Bruderman Asset Management LLC acquired a new position in Colgate-Palmolive in the second quarter worth $126,000. 72.86% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on CL shares. Citigroup reduced their price objective on Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Monday, October 23rd. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Saturday, November 25th. Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price objective on the stock in a research note on Tuesday, December 19th. Finally, SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $85.00 in a research note on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $76.45.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 earnings per share. research analysts forecast that Colgate-Palmolive will post 2.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, January 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. Colgate-Palmolive’s payout ratio is currently 61.78%.
In related news, insider Jennifer Daniels sold 902 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of the sale, the insider now owns 37,788 shares in the company, valued at $2,865,086.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Justin Skala sold 126,393 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the sale, the chief operating officer now owns 262,361 shares of the company’s stock, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. Insiders sold 181,950 shares of company stock valued at $13,237,385 in the last quarter. 1.02% of the stock is currently owned by corporate insiders.
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Colgate-Palmolive Company Profile
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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