Balyasny Asset Management L.P. Increases Stake in Colgate-Palmolive Company $CL

Balyasny Asset Management L.P. boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 50,879.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,193,435 shares of the company’s stock after acquiring an additional 1,191,094 shares during the quarter. Balyasny Asset Management L.P. owned 0.15% of Colgate-Palmolive worth $108,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Westside Investment Management Inc. raised its stake in shares of Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Saudi Central Bank purchased a new position in Colgate-Palmolive during the 1st quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC increased its holdings in Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Ransom Advisory Ltd bought a new position in Colgate-Palmolive during the 1st quarter valued at approximately $33,000. Finally, MTM Investment Management LLC purchased a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $39,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Citigroup cut their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Evercore ISI reduced their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective for the company. Finally, Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Colgate-Palmolive Stock Up 1.4%

Colgate-Palmolive stock opened at $78.32 on Friday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The stock has a fifty day simple moving average of $78.23 and a two-hundred day simple moving average of $83.59. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The firm has a market cap of $63.13 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 5.50 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. Equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio is 58.26%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.