B. Metzler seel. Sohn & Co. AG trimmed its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 26.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,966 shares of the company's stock after selling 56,921 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Colgate-Palmolive were worth $14,482,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in Colgate-Palmolive in the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC raised its position in shares of Colgate-Palmolive by 61.4% during 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 during the period. Triumph Capital Management raised its position in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive in the 4th quarter worth $26,000. 80.41% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CL. UBS Group boosted their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Citigroup boosted their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their target price on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Piper Sandler raised their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and an average target price of $99.00.
Get Our Latest Stock Report on Colgate-Palmolive
Colgate-Palmolive Stock Down 1.3%
Shares of NYSE:CL opened at $89.68 on Friday. The company has a market capitalization of $71.49 billion, a PE 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. The business has a fifty day moving average price of $91.86 and a two-hundred day moving average price of $90.13. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.
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. The company had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. Analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.
Colgate-Palmolive Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive's payout ratio is currently 84.13%.
Insider Transactions at Colgate-Palmolive
In other news, CEO Noel R. Wallace sold 161,021 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Colgate-Palmolive stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of 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 position. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by insiders.
Colgate-Palmolive Company Profile
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Free Report)
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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