Balyasny Asset Management L.P. Buys Shares of 2,995,219 Colgate-Palmolive Company $CL

Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,995,219 shares of the company’s stock, valued at approximately $236,682,000. Colgate-Palmolive comprises about 0.3% of Balyasny Asset Management L.P.’s holdings, making the stock its 26th biggest position. Balyasny Asset Management L.P. owned about 0.37% of Colgate-Palmolive at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CL. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares during the period. Geode Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after purchasing an additional 304,426 shares during the period. Morgan Stanley lifted its stake in shares of Colgate-Palmolive by 1.7% during the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after purchasing an additional 323,367 shares during the period. Norges Bank purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth $861,670,000. Finally, Deutsche Bank AG lifted its stake in shares of Colgate-Palmolive by 33.9% during the 4th 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 during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America reduced their price target on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a research note on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target on the stock. UBS Group increased their price target on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve equities research 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 has an average rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Stock Down 0.3%

Shares of NYSE CL opened at $90.38 on Thursday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a market cap of $72.32 billion, a P/E ratio of 35.17, a P/E/G ratio of 4.78 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a fifty day moving average price of $87.18 and a 200 day moving average price of $86.52.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors 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 is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

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.