Jefferies Financial Group Inc. Purchases New Position in Colgate-Palmolive Company $CL

Jefferies Financial Group Inc. acquired a new position in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 208,289 shares of the company’s stock, valued at approximately $19,096,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Colgate-Palmolive during the 4th quarter valued at $861,670,000. Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after acquiring an additional 7,927,238 shares during the period. Bank of America Corp DE purchased a new position in shares of Colgate-Palmolive in the second quarter valued at $567,483,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $236,682,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL opened at $90.97 on Friday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-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 cap of $72.52 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. The stock has a 50-day moving average price of $92.00 and a 200-day moving average price of $90.06.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Barclays increased their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, UBS Group boosted their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Insider Activity

In related news, Director John T. Cahill sold 4,170 shares of the 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 transaction, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

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.