Arrowstreet Capital Limited Partnership Has $428.40 Million Stake in Colgate-Palmolive Company $CL

Arrowstreet Capital Limited Partnership reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 18.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,358,971 shares of the company’s stock after selling 1,185,137 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.66% of Colgate-Palmolive worth $428,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Colgate-Palmolive in the 2nd quarter valued at approximately $960,390,000. Schroder Investment Management Group grew its stake in shares of Colgate-Palmolive by 242.3% during the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after buying an additional 3,768,784 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Colgate-Palmolive by 3,052.2% during the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after buying an additional 2,611,485 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Colgate-Palmolive by 46.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after buying an additional 2,572,796 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Colgate-Palmolive by 2,890.5% during the second quarter. OMERS ADMINISTRATION Corp now owns 1,417,542 shares of the company’s stock worth $128,855,000 after buying an additional 1,370,140 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Activity at Colgate-Palmolive

In other news, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the transaction, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock valued at $17,486,693 in the last ninety days. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 1.9%

Shares of Colgate-Palmolive stock opened at $87.94 on Friday. The stock’s 50-day moving average is $89.89 and its 200 day moving average is $83.20. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The firm has a market cap of $70.89 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 4.01 and a beta of 0.28. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CL. Barclays raised their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Bank of America lifted their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Finally, Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Tuesday, December 9th. 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, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

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.