Colgate-Palmolive Company $CL Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors cut its Colgate-Palmolive stake by 32.4% in the second quarter, selling 278,102 shares and retaining 579,234 shares worth about $53.1 million. Institutional investors and hedge funds collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly earnings of $0.99 per share, beating estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion. Analysts expect full-year EPS of approximately $3.86.
• The stock recently traded at $91.90, with analysts assigning a “Moderate Buy” consensus rating and an average price target of $99.00. The company maintains a quarterly dividend of $0.53 per share, yielding about 2.3% annually.

HighTower Advisors LLC trimmed its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 32.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,234 shares of the company's stock after selling 278,102 shares during the quarter. HighTower Advisors LLC owned 0.07% of Colgate-Palmolive worth $53,104,000 at the end of the most recent quarter.

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

Colgate-Palmolive Stock Down 1.1%

Shares of NYSE:CL opened at $91.90 on Friday. 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's fifty day moving average is $91.67 and its two-hundred day moving average is $89.99. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The stock has a market capitalization of $73.26 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 4.49 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping 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 business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

Insider Activity

In other news, Director John T. Cahill sold 4,170 shares of the company's stock in a transaction 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 transaction, the director directly owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Colgate-Palmolive in a research report on Thursday. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a "buy" rating in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $101.00 target price 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, Piper Sandler boosted their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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