Ieq Capital LLC raised its position in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 176.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,650 shares of the company’s stock after purchasing an additional 6,793 shares during the period. Ieq Capital LLC’s holdings in Colgate-Palmolive were worth $976,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $861,670,000. Bank of New York Mellon Corp lifted its position in Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after buying an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Colgate-Palmolive during the fourth quarter valued at approximately $236,682,000. Finally, Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.
Insider Buying and Selling
In related news, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was 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. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 175,191 shares of company stock valued at $16,110,903 over the last ninety days. 0.43% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on CL
Colgate-Palmolive Stock Down 1.2%
Shares of NYSE CL opened at $90.97 on Friday. The firm’s fifty day moving average is $92.00 and its 200 day moving average is $90.06. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company has a market cap of $72.52 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 4.30 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.
Colgate-Palmolive Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.
Colgate-Palmolive Company 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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