Colgate-Palmolive Company $CL Stock: Hengehold Capital Management LLC Raises Position

Hengehold Capital Management LLC increased its position in Colgate-Palmolive Company (NYSE:CL) by 272.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,354 shares of the company’s stock after buying an additional 10,500 shares during the period. Hengehold Capital Management LLC’s holdings in Colgate-Palmolive were worth $1,225,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Colgate-Palmolive by 97.4% in the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 buying an additional 7,927,238 shares in the last quarter. Bank of America Corp DE bought a new position in Colgate-Palmolive during the second quarter worth about $567,483,000. Envestnet Asset Management Inc. lifted its position in shares of Colgate-Palmolive by 266.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock worth $380,136,000 after buying an additional 3,014,860 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Colgate-Palmolive by 151.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company’s stock valued at $364,894,000 after acquiring an additional 2,575,530 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 1.5%

CL stock traded up $1.35 during trading on Friday, hitting $94.02. The company had a trading volume of 5,775,087 shares, compared to its average volume of 5,409,072. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The firm has a 50-day moving average price of $89.05 and a 200-day moving average price of $89.02. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The stock has a market cap of $74.95 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 4.43 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. As a group, analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Insider Activity

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction dated 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 directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 175,191 shares of company stock valued at $16,110,903 over the last 90 days. 0.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CL. Raymond James Financial raised their price target on Colgate-Palmolive from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Barclays boosted their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Bank of America decreased their target price on Colgate-Palmolive from $102.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Monday, October 5th. Finally, Weiss Ratings cut Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.95.

Colgate-Palmolive Profile

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.