Colgate-Palmolive Company $CL Shares Purchased by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its Colgate-Palmolive stake by 1.1%, purchasing 88,917 additional shares to own 8.21 million shares valued at approximately $752.3 million. Institutional investors collectively hold 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion. The company paid a quarterly dividend of $0.53, representing a 2.4% yield.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $99 versus the stock’s $88.80 opening price. Meanwhile, company insiders sold roughly $16.1 million of shares over the past quarter.

First Eagle Investment Management LLC raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,205,699 shares of the company's stock after purchasing an additional 88,917 shares during the quarter. First Eagle Investment Management LLC owned about 1.03% of Colgate-Palmolive worth $752,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC lifted its position in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC boosted its holdings in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after acquiring an additional 124 shares during the period. Triumph Capital Management boosted its holdings in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $88.80 on Monday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year 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 company has a market cap of $70.79 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 4.14 and a beta of 0.33. The firm has a fifty day moving average of $91.88 and a 200-day moving average of $89.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $5.36 billion. During the same quarter last year, the business earned $0.92 earnings per share. Colgate-Palmolive's revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced 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 yield of 2.4%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive's dividend payout ratio is currently 84.13%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. 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 report on Thursday, July 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $99.00.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 175,191 shares of company stock worth $16,110,903 over the last quarter. 0.43% of the stock is currently owned by company insiders.

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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