Delta Global Management LP Takes Position in Colgate-Palmolive Company $CL

Delta Global Management LP bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,647 shares of the company’s stock, valued at approximately $1,171,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Colgate-Palmolive during the second quarter valued at about $960,390,000. Schroder Investment Management Group raised its position in Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after acquiring an additional 3,768,784 shares in the last quarter. Pacer Advisors Inc. raised its position in Colgate-Palmolive by 3,052.2% in the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after acquiring an additional 2,611,485 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after acquiring an additional 2,572,796 shares during the last quarter. Finally, Amundi boosted its position in shares of Colgate-Palmolive by 41.6% during the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after purchasing an additional 1,850,412 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL opened at $90.39 on Tuesday. The company has a 50-day moving average of $90.38 and a two-hundred day moving average of $83.27. The stock has a market cap of $72.86 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 3.98 and a beta of 0.28. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

Analyst Ratings Changes

CL has been the topic of a number of research reports. Rothschild & Co Redburn set a $93.00 target price on shares of Colgate-Palmolive in a report on Friday, February 13th. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a report on Sunday, February 1st. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research report on Tuesday, December 9th. Citigroup upped their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Evercore raised their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the sale, the chief financial officer owned 55,310 shares in the company, valued at $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the transaction, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last three months. Company insiders own 0.41% of the company’s stock.

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.