Prospector Partners LLC Has $9.75 Million Holdings in Colgate-Palmolive Company $CL

Prospector Partners LLC lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 4.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 122,018 shares of the company’s stock after selling 5,325 shares during the period. Prospector Partners LLC’s holdings in Colgate-Palmolive were worth $9,754,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CL. NewEdge Wealth LLC purchased a new position in shares of Colgate-Palmolive during the third quarter valued at approximately $299,000. Advisors Capital Management LLC lifted its stake in Colgate-Palmolive by 3.5% during the 3rd quarter. Advisors Capital Management LLC now owns 220,935 shares of the company’s stock valued at $17,662,000 after acquiring an additional 7,504 shares in the last quarter. First National Bank of Omaha purchased a new position in Colgate-Palmolive during the 3rd quarter worth $468,000. Cornerstone Advisory LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter worth $241,000. Finally, NEOS Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 44.3% in the third quarter. NEOS Investment Management LLC now owns 107,824 shares of the company’s stock valued at $8,619,000 after purchasing an additional 33,114 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $94.00 price objective on shares of Colgate-Palmolive in a research report on Saturday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Jefferies Financial Group boosted their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Finally, Evercore raised their price objective on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.38.

Colgate-Palmolive Stock Performance

NYSE CL opened at $95.52 on Thursday. The company’s 50 day moving average is $84.94 and its 200-day moving average is $82.11. The firm has a market cap of $77.00 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 4.31 and a beta of 0.29. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90.

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

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were issued 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%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,851 shares of the 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 completion of the sale, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.