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Colgate-Palmolive (NYSE:CL) Sees Significant Growth in Short Interest

Colgate-Palmolive (NYSE:CL) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 13,220,000 shares, a growth of 5.5% from the September 30th total of 12,530,000 shares. Based on an average daily trading volume, of 3,380,000 shares, the short-interest ratio is currently 3.9 days. Approximately 1.6% of the company’s stock are short sold.

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Several research firms have recently weighed in on CL. Bank of America dropped their target price on shares of Colgate-Palmolive from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 price objective for the company. in a research report on Monday, November 4th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $77.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $76.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.57.

In other news, Chairman Ian M. Cook sold 19,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $73.97, for a total value of $1,442,415.00. Following the completion of the sale, the chairman now owns 1,088,367 shares of the company’s stock, valued at approximately $80,506,506.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Prabha Parameswaran sold 4,221 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $71.68, for a total transaction of $302,561.28. Following the completion of the sale, the insider now directly owns 16,793 shares of the company’s stock, valued at approximately $1,203,722.24. The disclosure for this sale can be found here. Insiders have sold a total of 115,486 shares of company stock worth $8,119,050 in the last ninety days. 1.14% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $25,000. Julex Capital Management LLC acquired a new stake in Colgate-Palmolive during the third quarter valued at approximately $27,000. Lipe & Dalton acquired a new stake in Colgate-Palmolive during the second quarter valued at approximately $29,000. Quest Capital Management Inc. ADV acquired a new stake in Colgate-Palmolive during the third quarter valued at approximately $31,000. Finally, Horan Capital Advisors LLC. acquired a new stake in Colgate-Palmolive during the third quarter valued at approximately $32,000. 76.90% of the stock is owned by institutional investors.

Colgate-Palmolive stock traded down $0.08 during midday trading on Monday, reaching $66.63. 9,003 shares of the stock traded hands, compared to its average volume of 4,047,775. The company has a current ratio of 1.03, a quick ratio of 0.70 and a debt-to-equity ratio of 43.94. The firm has a fifty day moving average price of $68.17 and a two-hundred day moving average price of $71.32. The firm has a market cap of $57.21 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 5.30 and a beta of 0.73. Colgate-Palmolive has a fifty-two week low of $57.51 and a fifty-two week high of $76.41.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.95 billion. Colgate-Palmolive had a net margin of 15.04% and a return on equity of 6,492.71%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. Analysts anticipate that Colgate-Palmolive will post 2.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, October 22nd. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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