126,023 Shares in Colgate-Palmolive Company $CL Purchased by Robinhood Asset Management LLC

Key Points

• Robinhood Asset Management acquired 126,023 Colgate-Palmolive shares worth approximately $11.6 million in the second quarter. Institutional investors and hedge funds collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding the $0.95 analyst consensus, while revenue rose 4.9% year over year to $5.36 billion. The company also maintains a quarterly dividend of $0.53, yielding about 2.3% annually.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $99, compared with the stock’s reported opening price of $91.02. Recent insider sales included transactions by CEO Noel Wallace and Director John Cahill, with the CEO’s sale attributed to tax withholding obligations.

Robinhood Asset Management LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 126,023 shares of the company's stock, valued at approximately $11,554,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company's stock valued at $6,633,570,000 after buying an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC increased its holdings in Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company's stock worth $1,754,657,000 after acquiring an additional 304,426 shares in the last quarter. Morgan Stanley increased its holdings in Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company's stock worth $1,520,836,000 after acquiring an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp raised its position in Colgate-Palmolive by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock worth $1,240,652,000 after acquiring an additional 1,010,872 shares during the period. Finally, Norges Bank acquired a new position in Colgate-Palmolive during the fourth quarter worth $861,670,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which is accessible 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 firm'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 of the company's stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Trading Up 1.5%

Shares of CL opened at $91.02 on Friday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market capitalization of $72.56 billion, a P/E ratio of 36.12, a P/E/G ratio of 4.19 and a beta of 0.33. The firm has a 50-day moving average price of $91.89 and a 200 day moving average price of $90.14. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued 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 company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. Colgate-Palmolive's quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued a $0.53 dividend. The ex-dividend date 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 is currently 84.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $101.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Piper Sandler lifted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. 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. Jefferies Financial Group restated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

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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