GSA Capital Partners LLP lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 65.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,252 shares of the company’s stock after selling 28,653 shares during the period. GSA Capital Partners LLP’s holdings in Colgate-Palmolive were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC boosted its position in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC grew its stake in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management increased its holdings in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Colgate-Palmolive
In other news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 business’s 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 in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.43% of the company’s stock.
Colgate-Palmolive Stock Performance
Colgate-Palmolive (NYSE:CL – Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.99 EPS 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 analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 earnings per share. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.
Colgate-Palmolive Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were given 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 84.13%.
Wall Street Analyst Weigh In
CL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday. Citigroup upped their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Barclays increased their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.00.
Check Out Our Latest Stock Analysis on CL
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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