Smith Group Asset Management LLC lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 61.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,980 shares of the company’s stock after selling 6,257 shares during the quarter. Smith Group Asset Management LLC’s holdings in Colgate-Palmolive were worth $365,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Brighton Jones LLC raised its position in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the period. Woodline Partners LP grew its position in shares of Colgate-Palmolive by 76.3% in the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after purchasing an additional 20,062 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Colgate-Palmolive by 2.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after purchasing an additional 245 shares during the period. Nebula Research & Development LLC increased its stake in Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after purchasing an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Colgate-Palmolive by 21.7% during the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after buying an additional 116,968 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Trading Down 1.1%
NYSE:CL opened at $91.90 on Friday. The company has a market cap of $73.26 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 4.54 and a beta of 0.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The business has a 50 day moving average price of $91.67 and a two-hundred day moving average price of $89.99. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.
Colgate-Palmolive Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given 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 yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.
Analysts Set New Price Targets
CL has been the topic of a number of research reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Barclays boosted their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.
Check Out Our Latest Analysis on Colgate-Palmolive
Insider Buying and Selling at Colgate-Palmolive
In other news, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 completion of the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by insiders.
Colgate-Palmolive 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.
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