Overbrook Management Corp Buys Shares of 2,940 Colgate-Palmolive (NYSE:CL)

Overbrook Management Corp bought a new stake in shares of Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,940 shares of the company’s stock, valued at approximately $234,000.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Colgate-Palmolive by 27.3% in the third quarter. FMR LLC now owns 5,597,742 shares of the company’s stock worth $398,055,000 after acquiring an additional 1,199,660 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $62,728,000. Assenagon Asset Management S.A. increased its stake in shares of Colgate-Palmolive by 92.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,436,054 shares of the company’s stock worth $114,468,000 after acquiring an additional 688,733 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 225.4% in the third quarter. Envestnet Asset Management Inc. now owns 930,072 shares of the company’s stock worth $66,137,000 after acquiring an additional 644,205 shares during the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Colgate-Palmolive by 188.5% in the third quarter. Bank of Nova Scotia now owns 883,272 shares of the company’s stock worth $62,809,000 after acquiring an additional 577,114 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $90.99 on Friday. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $92.25. The stock has a market cap of $74.79 billion, a PE ratio of 32.73, a PEG ratio of 3.35 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The firm’s 50 day moving average price is $87.66 and its two-hundred day moving average price is $81.46.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, analysts forecast that Colgate-Palmolive will post 3.5 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 71.94%.

Insider Transactions at Colgate-Palmolive

In related news, Director C Martin Harris sold 2,760 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the sale, the director now directly owns 19,272 shares in the company, valued at $1,628,484. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director C Martin Harris sold 2,760 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the sale, the director now directly owns 19,272 shares in the company, valued at $1,628,484. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total transaction of $5,891,020.56. Following the sale, the chief executive officer now owns 286,881 shares in the company, valued at $24,161,117.82. The disclosure for this sale can be found here. Insiders have sold a total of 232,371 shares of company stock valued at $19,505,099 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. UBS Group increased their target price on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Barclays increased their price target on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Citigroup raised their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus increased their price target on shares of Colgate-Palmolive from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.