Colgate-Palmolive Company $CL Shares Sold by Baypointe Partners LLC

Key Points

• Baypointe Partners cut its Colgate-Palmolive stake by 80% in the second quarter, selling 40,000 shares and retaining 10,000 shares worth approximately $917,000. Institutional investors and hedge funds collectively own 80.41% of CL.
• Colgate-Palmolive insiders sold 175,191 shares valued at roughly $16.1 million over the past three months, including substantial sales by CEO Noel Wallace and COO Panagiotis Tsourapas.
• The company exceeded quarterly earnings expectations with $0.99 EPS versus the $0.95 consensus estimate, while revenue rose 4.9% year over year to $5.36 billion. Colgate-Palmolive also pays an annualized $2.12 dividend yielding about 2.4%, and analysts maintain a “Moderate Buy” consensus with a $99 price target.

Baypointe Partners LLC reduced its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 80.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company's stock after selling 40,000 shares during the quarter. Colgate-Palmolive makes up approximately 2.2% of Baypointe Partners LLC's investment portfolio, making the stock its 14th largest position. Baypointe Partners LLC's holdings in Colgate-Palmolive were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CL. Kemnay Advisory Services Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC raised its stake in 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 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 valued at $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $26,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Noel 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 transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares of the company's stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a document filed 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 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 completion of the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 175,191 shares of company stock valued at $16,110,903 in the last three months. 0.43% of the stock is owned by corporate insiders.

Colgate-Palmolive Price Performance

CL stock opened at $89.89 on Friday. The company has a market capitalization of $71.66 billion, a PE ratio of 35.67, a P/E/G ratio of 4.20 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The business's fifty day moving average price is $91.95 and its 200 day moving average price is $89.88.

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued a $0.53 dividend. 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 (DPR) is 84.13%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group restated a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Morgan Stanley reiterated an "overweight" rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Citigroup increased their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a "hold (c+)" rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. Finally, Sanford C. Bernstein restated 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

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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