Marshall Wace LLP lessened its stake in Colgate-Palmolive (NYSE:CL) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,883 shares of the company’s stock after selling 7,895 shares during the period. Marshall Wace LLP’s holdings in Colgate-Palmolive were worth $7,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Paloma Partners Management Co lifted its holdings in shares of Colgate-Palmolive by 87.0% during the second quarter. Paloma Partners Management Co now owns 51,721 shares of the company’s stock worth $3,352,000 after purchasing an additional 24,068 shares during the period. Impax Asset Management LLC lifted its holdings in Colgate-Palmolive by 1,872.2% in the second quarter. Impax Asset Management LLC now owns 176,871 shares of the company’s stock valued at $11,463,000 after acquiring an additional 167,903 shares during the period. Macquarie Group Ltd. lifted its holdings in Colgate-Palmolive by 203.2% in the second quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock valued at $2,241,000 after acquiring an additional 23,169 shares during the period. Sterling Capital Management LLC lifted its holdings in Colgate-Palmolive by 32.1% in the second quarter. Sterling Capital Management LLC now owns 22,705 shares of the company’s stock valued at $1,472,000 after acquiring an additional 5,511 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in Colgate-Palmolive by 176.7% in the second quarter. Cubist Systematic Strategies LLC now owns 45,158 shares of the company’s stock valued at $2,927,000 after acquiring an additional 28,839 shares during the period. Institutional investors own 74.54% of the company’s stock.
Colgate-Palmolive stock opened at $65.35 on Tuesday. The company has a debt-to-equity ratio of -34.49, a current ratio of 1.06 and a quick ratio of 0.74. Colgate-Palmolive has a 12 month low of $61.28 and a 12 month high of $77.91. The company has a market capitalization of $58.10 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, October 18th. Colgate-Palmolive’s payout ratio is 58.54%.
Colgate-Palmolive announced that its Board of Directors has initiated a stock buyback plan on Monday, June 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have issued reports on CL. Stifel Nicolaus decreased their price target on Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, July 23rd. ValuEngine raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Barclays set a $64.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, July 30th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $64.00 price objective on shares of Colgate-Palmolive in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $72.13.
In other Colgate-Palmolive news, insider Daniel B. Marsili sold 19,500 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $65.40, for a total value of $1,275,300.00. Following the completion of the sale, the insider now directly owns 78,065 shares in the company, valued at approximately $5,105,451. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Justin Skala sold 90,069 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $66.36, for a total value of $5,976,978.84. Following the completion of the sale, the vice president now owns 65,061 shares of the company’s stock, valued at $4,317,447.96. The disclosure for this sale can be found here. Insiders have sold 415,279 shares of company stock valued at $27,384,156 over the last quarter. 1.02% of the stock is owned by company insiders.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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