Carmignac Gestion Reduces Stake in Colgate-Palmolive Company $CL

Key Points

• Carmignac Gestion reduced its Colgate-Palmolive stake by 15.7% in the second quarter, selling 37,059 shares and retaining 199,143 shares valued at approximately $18.3 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive insiders sold 175,191 shares worth $16.1 million during the last quarter, including sales by a director and the COO. Corporate insiders own just 0.43% of the stock.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and a $99 price target versus the reported share price of $88.37. The company also exceeded quarterly EPS expectations and pays an annualized dividend of $2.12 per share, yielding 2.4%.

Carmignac Gestion cut its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 15.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,143 shares of the company's stock after selling 37,059 shares during the quarter. Carmignac Gestion's holdings in Colgate-Palmolive were worth $18,293,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CL. Brighton Jones LLC boosted its holdings in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after purchasing an additional 450 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company's stock worth $4,344,000 after buying an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. raised its position in shares of Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company's stock valued at $1,136,000 after buying an additional 245 shares during the period. Nebula Research & Development LLC raised its position in shares of Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company's stock valued at $939,000 after buying an additional 6,437 shares during the period. Finally, Sei Investments Co. lifted its holdings in Colgate-Palmolive by 21.7% in the second quarter. Sei Investments Co. now owns 657,093 shares of the company's stock valued at $59,732,000 after acquiring an additional 116,968 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 28,373 shares of the company's stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction 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 transaction, the chief operating officer owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CL. Jefferies Financial Group reiterated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Citigroup upped their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Piper Sandler increased their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.00.

Colgate-Palmolive Trading Down 0.5%

Shares of CL traded down $0.40 during midday trading on Tuesday, hitting $88.37. 4,127,888 shares of the stock were exchanged, compared to its average volume of 5,739,596. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The stock has a fifty day simple moving average of $91.81 and a 200 day simple moving average of $89.77. The firm has a market cap of $70.45 billion, a P/E ratio of 35.07, a P/E/G ratio of 4.14 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The company's quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive's dividend payout ratio is 84.13%.

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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