Assenagon Asset Management S.A. Purchases New Holdings in Colgate-Palmolive (CL)

Assenagon Asset Management S.A. purchased a new stake in Colgate-Palmolive (NYSE:CL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 243,490 shares of the company’s stock, valued at approximately $16,302,000.

Other large investors have also recently made changes to their positions in the company. CSat Investment Advisory L.P. bought a new position in Colgate-Palmolive in the 2nd quarter valued at $111,000. Bridgeworth LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $120,000. Fort L.P. bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $123,000. O Brien Wealth Partners LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $123,000. Finally, Kaizen Advisory LLC lifted its holdings in shares of Colgate-Palmolive by 134.8% during the 2nd quarter. Kaizen Advisory LLC now owns 1,979 shares of the company’s stock worth $128,000 after acquiring an additional 1,136 shares during the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

In other Colgate-Palmolive news, VP Justin Skala sold 90,069 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 65,061 shares in the company, valued at $4,317,447.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Philip G. Shotts sold 17,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $65.44, for a total transaction of $1,112,480.00. Following the completion of the transaction, the vice president now owns 49,949 shares in the company, valued at approximately $3,268,662.56. The disclosure for this sale can be found here. Insiders sold 395,779 shares of company stock worth $26,108,856 in the last 90 days. Corporate insiders own 1.02% of the company’s stock.

A number of research firms have recently issued reports on CL. Stifel Nicolaus dropped their price objective on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, July 23rd. Wells Fargo & Co dropped their price objective on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating for the company in a report on Wednesday, October 17th. ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Colgate-Palmolive from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $61.00 to $54.00 in a report on Monday. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $68.81.

Shares of NYSE:CL opened at $57.88 on Tuesday. The firm has a market capitalization of $51.70 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $77.91. The company has a debt-to-equity ratio of 64.85, a quick ratio of 0.28 and a current ratio of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 26th. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. As a group, equities analysts forecast that Colgate-Palmolive will post 2.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, October 18th. Colgate-Palmolive’s payout ratio is 58.54%.

About Colgate-Palmolive

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.

Further Reading: Relative Strength Index

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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