Colgate-Palmolive Company $CL Stock: Calamos Advisors LLC Decreases Position

Calamos Advisors LLC trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 49.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,575 shares of the company’s stock after selling 142,604 shares during the period. Calamos Advisors LLC’s holdings in Colgate-Palmolive were worth $12,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CL. Virginia Estate & Retirement Planning Advisors Inc. lifted its holdings in Colgate-Palmolive by 1,409.1% in the 3rd quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock worth $28,000 after buying an additional 310 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Colgate-Palmolive during the second quarter valued at about $32,000. Park Place Capital Corp increased its position in shares of Colgate-Palmolive by 55.5% during the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock worth $33,000 after acquiring an additional 127 shares during the last quarter. Cherry Tree Wealth Management LLC increased its position in shares of Colgate-Palmolive by 7,840.0% during the second quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 392 shares during the last quarter. Finally, Montgomery Financial Services LLC acquired a new position in shares of Colgate-Palmolive in the second quarter worth about $36,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 19,938 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $98.74, for a total transaction of $1,968,678.12. Following the sale, the chief operating officer owned 9,111 shares in the company, valued at $899,620.14. This represents a 68.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Noel Wallace sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $100.26, for a total value of $2,005,200.00. Following the transaction, the chief executive officer directly owned 359,700 shares in the company, valued at approximately $36,063,522. This represents a 5.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 73,314 shares of company stock worth $7,212,109 over the last quarter. 0.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company increased their price target on Colgate-Palmolive from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. TD Cowen lifted their price objective on Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a report on Monday, November 2nd. Royal Bank Of Canada upped their target price on Colgate-Palmolive from $104.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. Finally, JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $104.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.22.

Colgate-Palmolive Price Performance

CL opened at $96.61 on Friday. The company has a 50-day moving average of $90.12 and a 200-day moving average of $89.97. The company has a market capitalization of $76.80 billion, a P/E ratio of 37.89, a PEG ratio of 4.38 and a beta of 0.31. Colgate-Palmolive Company has a 1-year low of $75.96 and a 1-year high of $101.18. The company has a debt-to-equity ratio of 11.23, a quick ratio of 0.30 and a current ratio of 0.96.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter last year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post 3.92 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is currently 83.14%.

About Colgate-Palmolive

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.

The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.

Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.