Colgate-Palmolive Company $CL Stock Position Increased by Qsemble Capital Management LP

Key Points

• Qsemble Capital Management increased its Colgate-Palmolive position by 124.9% in the second quarter, holding 69,862 shares valued at approximately $6.4 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $99.00; recent targets range as high as $110.
• Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 in EPS versus the $0.95 consensus estimate, while revenue rose 4.9% year over year to $5.36 billion. The company also pays a quarterly dividend of $0.53 per share, yielding about 2.3%.

Qsemble Capital Management LP raised its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 124.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,862 shares of the company's stock after purchasing an additional 38,793 shares during the period. Colgate-Palmolive accounts for approximately 0.8% of Qsemble Capital Management LP's holdings, making the stock its 22nd biggest position. Qsemble Capital Management LP's holdings in Colgate-Palmolive were worth $6,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CL. Norges Bank bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $861,670,000. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in 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. Balyasny Asset Management L.P. acquired a new position in Colgate-Palmolive during the 4th quarter worth $236,682,000. Finally, Deutsche Bank AG grew its stake in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock worth $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Insider Activity at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the 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 completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday. Morgan Stanley reissued an "overweight" rating and set a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Citigroup boosted their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, UBS Group increased their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $91.90 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month 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 company has a market capitalization of $73.26 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 4.54 and a beta of 0.33. The firm has a 50-day moving average of $91.67 and a two-hundred day moving average of $89.99.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during 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 business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. As a group, 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. Investors of record on Monday, July 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 84.13%.

Colgate-Palmolive 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.

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