Assenagon Asset Management S.A. Increases Holdings in Colgate-Palmolive Company $CL

Assenagon Asset Management S.A. boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 139.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,701,244 shares of the company’s stock after buying an additional 990,065 shares during the period. Assenagon Asset Management S.A.’s holdings in Colgate-Palmolive were worth $155,970,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CL. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth $25,000. CBIZ Investment Advisory Services LLC lifted its stake in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC lifted its stake in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Triumph Capital Management grew its holdings in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $26,000. 80.41% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CL shares. Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday. Barclays boosted their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Citigroup upped their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Stock Performance

CL stock opened at $92.82 on Friday. 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 $74.00 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 4.56 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.30 and a current ratio of 1.03. The firm has a 50-day simple moving average of $91.07 and a two-hundred day simple moving average of $89.72.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s payout ratio is currently 84.13%.

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.