Assenagon Asset Management S.A. Sells 670,440 Shares of Colgate-Palmolive Company $CL

Assenagon Asset Management S.A. decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 51.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 639,212 shares of the company’s stock after selling 670,440 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Colgate-Palmolive worth $50,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in Colgate-Palmolive by 11.0% in the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after acquiring an additional 202,379 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in shares of Colgate-Palmolive during the third quarter valued at about $5,373,000. Asset Management One Co. Ltd. increased its holdings in shares of Colgate-Palmolive by 3.9% during the third quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after acquiring an additional 16,017 shares in the last quarter. Citigroup Inc. raised its position in shares of Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after purchasing an additional 409,710 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in Colgate-Palmolive by 248.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock worth $6,909,000 after purchasing an additional 62,327 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Panagiotis Tsourapas sold 15,000 shares of Colgate-Palmolive stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total value of $1,467,150.00. Following the sale, the chief operating officer owned 10,415 shares of the company’s stock, valued at approximately $1,018,691.15. This trade represents a 59.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 55,310 shares of the company’s stock, valued at $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group boosted their target price on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada raised shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target for the company in a report on Tuesday, December 9th. Jefferies Financial Group lifted their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 target price on Colgate-Palmolive in a research report on Friday, February 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Colgate-Palmolive Trading Down 0.8%

Shares of Colgate-Palmolive stock opened at $84.46 on Wednesday. The firm has a 50-day simple moving average of $91.10 and a two-hundred day simple moving average of $83.36. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a market cap of $68.08 billion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 3.81 and a beta of 0.28.

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

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

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.