Edmond DE Rothschild Holding S.A. reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 38.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,869 shares of the company’s stock after selling 11,061 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Colgate-Palmolive were worth $1,638,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Madison Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 10.0% during the 2nd quarter. Madison Asset Management LLC now owns 273,802 shares of the company’s stock valued at $25,102,000 after purchasing an additional 24,782 shares in the last quarter. West Family Investments Inc. lifted its position in shares of Colgate-Palmolive by 58.1% during the 2nd quarter. West Family Investments Inc. now owns 4,054 shares of the company’s stock worth $372,000 after purchasing an additional 1,489 shares during the last quarter. NewEdge Wealth LLC increased its position in Colgate-Palmolive by 18.4% during the second quarter. NewEdge Wealth LLC now owns 5,048 shares of the company’s stock worth $463,000 after acquiring an additional 786 shares during the period. Lcnb Corp acquired a new stake in Colgate-Palmolive during the second quarter worth about $206,000. Finally, Essential Partners LLC boosted its stake in Colgate-Palmolive by 325.9% during the second quarter. Essential Partners LLC now owns 1,942 shares of the company’s stock worth $178,000 after buying an additional 1,486 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. UBS Group increased their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.
Colgate-Palmolive Trading Down 1.3%
CL opened at $89.68 on Friday. The firm has a 50 day simple moving average of $91.86 and a 200 day simple moving average of $90.13. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a market cap of $71.49 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 4.25 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 (NYSE:CL – Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.
Colgate-Palmolive Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.
Insider Buying and Selling
In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the stock in a transaction 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 in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive 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 transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.43% of the company’s stock.
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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