EFG International AG lifted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 23.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,312 shares of the company's stock after acquiring an additional 13,510 shares during the period. EFG International AG's holdings in Colgate-Palmolive were worth $6,634,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CL. Canada Pension Plan Investment Board boosted its holdings in Colgate-Palmolive by 73.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,986,101 shares of the company's stock worth $182,086,000 after purchasing an additional 844,167 shares during the period. Van Hulzen Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 2.2% during the second quarter. Van Hulzen Asset Management LLC now owns 80,200 shares of the company's stock worth $7,353,000 after purchasing an additional 1,693 shares during the period. Verity Asset Management Inc. lifted its position in shares of Colgate-Palmolive by 38.7% in the 2nd quarter. Verity Asset Management Inc. now owns 3,574 shares of the company's stock worth $328,000 after buying an additional 997 shares during the last quarter. Park Place Capital Corp boosted its holdings in shares of Colgate-Palmolive by 55.5% in the 2nd quarter. Park Place Capital Corp now owns 356 shares of the company's stock valued at $33,000 after buying an additional 127 shares during the period. Finally, L2 Asset Management LLC boosted its holdings in shares of Colgate-Palmolive by 5.5% in the 2nd quarter. L2 Asset Management LLC now owns 4,579 shares of the company's stock valued at $420,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on CL. Citigroup increased their price objective 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. Piper Sandler upped their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. UBS Group raised their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.00.
Read Our Latest Analysis on CL
Insider Buying and Selling
In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction 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 sale, the director owned 28,373 shares of the company's stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the business's stock in a transaction 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 transaction, the chief executive officer 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.43% of the company's stock.
Colgate-Palmolive Stock Down 1.4%
CL stock opened at $91.27 on Wednesday. The stock has a market cap of $72.76 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 4.33 and a beta of 0.33. The firm's 50-day simple moving average is $91.94 and its 200 day simple moving average is $90.10. 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 quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.
Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted $0.92 EPS. Colgate-Palmolive's revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict 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. Stockholders of record on Monday, July 20th were given a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's payout ratio is currently 84.13%.
About Colgate-Palmolive
(
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.
See Also
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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