Balyasny Asset Management L.P. Invests $236.68 Million in Colgate-Palmolive Company $CL

Balyasny Asset Management L.P. bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,995,219 shares of the company’s stock, valued at approximately $236,682,000. Colgate-Palmolive comprises approximately 0.3% of Balyasny Asset Management L.P.’s portfolio, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of CL. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. Jessup Wealth Management Inc purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $26,000. Triumph Capital Management increased its position in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Maseco LLP purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $27,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $90.38 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The business has a 50 day moving average of $87.18 and a two-hundred day moving average of $86.52. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a market cap of $72.32 billion, a P/E ratio of 35.17, a PEG ratio of 4.78 and a beta of 0.33.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 82.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CL. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price target on shares of Colgate-Palmolive in a research note on Monday, May 4th. Piper Sandler decreased their price target on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

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.