Assenagon Asset Management S.A. Acquires 2,575,530 Shares of Colgate-Palmolive Company $CL

Assenagon Asset Management S.A. boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 151.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,276,774 shares of the company's stock after acquiring an additional 2,575,530 shares during the period. Assenagon Asset Management S.A. owned 0.54% of Colgate-Palmolive worth $364,894,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brindle & Bay Financial Advisors LLC grew its stake in Colgate-Palmolive by 38.3% in the third quarter. Brindle & Bay Financial Advisors LLC now owns 14,898 shares of the company's stock valued at $1,271,000 after acquiring an additional 4,127 shares during the period. Maryland Capital Advisors Inc. increased its holdings in shares of Colgate-Palmolive by 17,633.3% in the third quarter. Maryland Capital Advisors Inc. now owns 532 shares of the company's stock worth $45,000 after acquiring an additional 529 shares in the last quarter. Retirement Planning Co of New England Inc. raised its position in shares of Colgate-Palmolive by 100.1% during the third quarter. Retirement Planning Co of New England Inc. now owns 8,487 shares of the company's stock worth $724,000 after purchasing an additional 4,246 shares during the period. Mystic Asset Management Inc. raised its position in shares of Colgate-Palmolive by 65.2% during the third quarter. Mystic Asset Management Inc. now owns 40,533 shares of the company's stock worth $3,458,000 after purchasing an additional 15,998 shares during the period. Finally, Ninety One UK Ltd lifted its holdings in shares of Colgate-Palmolive by 13.1% during the 3rd quarter. Ninety One UK Ltd now owns 1,426,761 shares of the company's stock valued at $124,573,000 after purchasing an additional 164,784 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Insider Transactions at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the sale, the director owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Morgan Stanley reiterated an "overweight" rating and set a $104.00 target price (up from $100.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Monday, October 5th. Finally, BNP Paribas Exane dropped their price target on Colgate-Palmolive from $101.00 to $97.00 and set an "outperform" rating on the stock in a research note on Monday, September 28th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $97.95.

Colgate-Palmolive Price Performance

NYSE:CL opened at $92.61 on Friday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The firm has a fifty day simple moving average of $89.04 and a 200 day simple moving average of $88.99. The stock has a market capitalization of $73.82 billion, a PE ratio of 36.75, a P/E/G ratio of 4.44 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion during 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, research analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

About Colgate-Palmolive

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom's of Maine and Hill's Science Diet.

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