Principal Financial Group Inc. trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 990,355 shares of the company’s stock after selling 18,659 shares during the quarter. Principal Financial Group Inc.’s holdings in Colgate-Palmolive were worth $90,796,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. HighPoint Advisor Group LLC increased its stake in Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after purchasing an additional 109 shares in the last quarter. Clear Harbor Asset Management LLC lifted its stake in shares of Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after buying an additional 113 shares in the last quarter. Cooper Financial Group lifted its stake in shares of Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after buying an additional 114 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock valued at $1,225,000 after buying an additional 114 shares during the last quarter. Finally, Gould Capital LLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after buying an additional 115 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.
Colgate-Palmolive Stock Performance
NYSE CL opened at $91.90 on Friday. The company has a fifty day moving average price of $91.67 and a 200-day moving average price of $89.99. The firm has a market cap of $73.26 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 4.54 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.
Colgate-Palmolive Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on CL shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Wells Fargo & Company raised their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.00.
Read Our Latest Stock Report on CL
Insider Buying and Selling
In other news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by insiders.
About Colgate-Palmolive
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.
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