Reynders McVeigh Capital Management LLC lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 1,193.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,914 shares of the company’s stock after acquiring an additional 96,803 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Colgate-Palmolive were worth $9,619,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC grew its position in shares of Colgate-Palmolive by 7,840.0% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 392 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Colgate-Palmolive by 5.0% in the second quarter. Sequoia Financial Advisors LLC now owns 67,984 shares of the company’s stock valued at $6,233,000 after acquiring an additional 3,211 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Colgate-Palmolive by 2.5% during the second quarter. Tidal Investments LLC now owns 144,375 shares of the company’s stock worth $13,236,000 after purchasing an additional 3,539 shares during the last quarter. Van Hulzen Asset Management LLC grew its holdings in shares of Colgate-Palmolive by 2.2% during the second quarter. Van Hulzen Asset Management LLC now owns 80,200 shares of the company’s stock worth $7,353,000 after purchasing an additional 1,693 shares during the last quarter. Finally, National Pension Service increased its position in shares of Colgate-Palmolive by 2.5% during the second quarter. National Pension Service now owns 2,384,794 shares of the company’s stock worth $218,638,000 after purchasing an additional 59,088 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.
Colgate-Palmolive Stock Performance
CL stock traded down $0.90 during trading on Tuesday, hitting $87.00. The company had a trading volume of 5,311,529 shares, compared to its average volume of 5,711,287. The firm has a market cap of $69.35 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 4.05 and a beta of 0.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The firm has a 50-day moving average price of $91.23 and a 200-day moving average price of $89.49. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.
Insider Transactions at Colgate-Palmolive
In other news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% 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, Director John Cahill sold 4,170 shares of the stock in a transaction on 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 approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,191 shares of company stock worth $16,110,903 over the last 90 days. 0.43% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of brokerages recently issued reports on CL. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Piper Sandler increased their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. UBS Group raised their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.
Check Out Our Latest Stock Report on Colgate-Palmolive
About Colgate-Palmolive
Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.
The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.
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