ABC Arbitrage SA Invests $1.10 Million in Colgate-Palmolive Company $CL

ABC Arbitrage SA purchased a new stake in Colgate-Palmolive Company (NYSE:CL) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,767 shares of the company’s stock, valued at approximately $1,101,000.

Several other large investors also recently modified their holdings of CL. Westside Investment Management Inc. raised its holdings in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares during the last quarter. Copia Wealth Management purchased a new position in Colgate-Palmolive during the 3rd quarter worth $29,000. Cloud Capital Management LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $30,000. Finally, MTM Investment Management LLC bought a new position in Colgate-Palmolive in the 2nd quarter valued at $39,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of CL opened at $95.36 on Thursday. The company has a market cap of $76.87 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 4.24 and a beta of 0.29. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90. The company has a 50 day moving average of $83.06 and a two-hundred day moving average of $81.73. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) 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 company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is presently 79.39%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 5th. The shares were 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 directly owned 13,751 shares in the company, valued at $1,306,757.53. This trade represents a 53.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the sale, the chief financial officer directly owned 55,310 shares in the company, valued at $5,214,073.70. This represents a 63.89% decrease in their position. The SEC filing for this sale provides additional information. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CL has been the topic of a number of analyst reports. Barclays boosted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. UBS Group increased their price target on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $94.00 target price on shares of Colgate-Palmolive in a research report on Saturday, January 31st. Finally, TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.47.

Colgate-Palmolive Profile

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.