Lombard Odier Asset Management Europe Ltd Purchases Shares of 87,336 Colgate-Palmolive Company $CL

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 87,336 shares of the company’s stock, valued at approximately $8,007,000.

Several other large investors have also modified their holdings of CL. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $861,670,000. Bank of New York Mellon Corp boosted its position in Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after acquiring an additional 7,927,238 shares during the period. Bank of America Corp DE acquired a new stake in shares of Colgate-Palmolive during the second quarter worth approximately $567,483,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after acquiring an additional 4,598,789 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $236,682,000. 80.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% 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, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CL has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Citigroup raised their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Morgan Stanley restated an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Wells Fargo & Company increased their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Down 0.2%

Shares of NYSE CL opened at $90.75 on Friday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The business has a fifty day moving average of $92.02 and a two-hundred day moving average of $90.06. The stock has a market cap of $72.34 billion, a PE ratio of 36.01, a PEG ratio of 4.25 and a beta of 0.33.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Colgate-Palmolive Company 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.