Colgate-Palmolive Company $CL Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group cut its Colgate-Palmolive stake by 56.6% in the second quarter, selling 1.25 million shares and retaining 962,780 shares valued at $88.3 million. Institutional investors still own 80.41% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds. Colgate-Palmolive has a consensus “Moderate Buy” rating and an average price target of $99, above its reported $90.75 share price.
• Recent operating results exceeded expectations: quarterly EPS was $0.99 versus a $0.95 estimate, while revenue rose 4.9% year over year to $5.36 billion. The company also pays a quarterly dividend of $0.53, equivalent to a 2.3% yield.

Alyeska Investment Group L.P. lowered its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 56.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 962,780 shares of the company's stock after selling 1,254,645 shares during the quarter. Alyeska Investment Group L.P. owned 0.12% of Colgate-Palmolive worth $88,268,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CL. Wedbush Securities Inc. grew its holdings in shares of Colgate-Palmolive by 12.0% in the 2nd quarter. Wedbush Securities Inc. now owns 23,748 shares of the company's stock worth $2,177,000 after acquiring an additional 2,538 shares during the last quarter. Delta Asset Management LLC TN lifted its holdings in shares of Colgate-Palmolive by 1.8% during the second quarter. Delta Asset Management LLC TN now owns 7,034 shares of the company's stock valued at $645,000 after purchasing an additional 122 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Colgate-Palmolive by 8.4% in the 2nd quarter. New Mexico Educational Retirement Board now owns 40,130 shares of the company's stock valued at $3,679,000 after purchasing an additional 3,100 shares during the period. Mufg Securities Americas Inc. boosted its position in shares of Colgate-Palmolive by 8.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 24,101 shares of the company's stock valued at $2,210,000 after purchasing an additional 1,797 shares during the period. Finally, Nissay Asset Management Corp Japan increased its stake in Colgate-Palmolive by 3.1% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 103,697 shares of the company's stock worth $9,507,000 after purchasing an additional 3,143 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CL. UBS Group raised their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. TD Cowen increased their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research note on Monday, August 3rd. Morgan Stanley restated an "overweight" rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Royal Bank Of Canada lifted their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Finally, 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. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Insider Activity

In related news, CEO Noel R. Wallace sold 161,021 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares of the company's stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Trading Down 0.2%

NYSE:CL opened at $90.75 on Friday. The company's 50 day moving average is $92.02 and its 200-day moving average is $90.06. 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 Company has a 12 month low of $74.54 and a 12 month high of $99.33. The firm has a market cap of $72.34 billion, a price-to-earnings ratio of 36.01, a P/E/G ratio of 4.24 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 for the quarter, topping 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 business had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive's payout ratio is 84.13%.

Colgate-Palmolive 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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