Stone Ridge Asset Management LLC lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 61.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,150 shares of the company’s stock after selling 158,700 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Colgate-Palmolive were worth $7,178,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Colgate-Palmolive by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,737,377 shares of the company’s stock worth $103,412,000 after purchasing an additional 57,606 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after purchasing an additional 768,550 shares in the last quarter. Brinker Capital Inc. purchased a new position in shares of Colgate-Palmolive during the first quarter worth about $207,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Colgate-Palmolive during the first quarter worth about $3,120,000. Finally, Cooper Haims Advisors LLC purchased a new position in shares of Colgate-Palmolive during the first quarter worth about $234,000. 75.83% of the stock is owned by institutional investors and hedge funds.
CL stock traded down $0.81 during midday trading on Friday, hitting $72.23. The company had a trading volume of 2,972,789 shares, compared to its average volume of 3,701,071. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $76.41. The stock’s 50 day moving average price is $72.56 and its 200 day moving average price is $70.11. The stock has a market cap of $61.97 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 4.67 and a beta of 0.76.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th were given a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $1.72 annualized dividend and a yield of 2.38%. Colgate-Palmolive’s payout ratio is currently 57.91%.
In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 33,854 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $73.45, for a total value of $2,486,576.30. Following the completion of the sale, the chief financial officer now owns 73,693 shares in the company, valued at $5,412,750.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Huston sold 473 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $72.93, for a total value of $34,495.89. Following the completion of the sale, the senior vice president now owns 59,668 shares of the company’s stock, valued at approximately $4,351,587.24. The disclosure for this sale can be found here. Insiders sold 564,285 shares of company stock valued at $40,530,290 in the last quarter. Corporate insiders own 1.14% of the company’s stock.
CL has been the subject of several recent analyst reports. ValuEngine lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Friday, July 12th. Deutsche Bank boosted their target price on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Piper Jaffray Companies initiated coverage on Colgate-Palmolive in a research report on Tuesday, August 13th. They issued an “overweight” rating for the company. Finally, Jefferies Financial Group boosted their target price on Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $73.87.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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