Colgate-Palmolive Company $CL Shares Sold by KBC Group NV

KBC Group NV lessened its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 274,172 shares of the company's stock after selling 27,336 shares during the quarter. KBC Group NV's holdings in Colgate-Palmolive were worth $25,136,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive 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 sale, the chief executive officer owned 362,231 shares of the company's stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. 0.43% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Down 1.1%

Shares of NYSE CL opened at $91.90 on Friday. The stock has a market cap of $73.26 billion, a PE ratio of 36.47, a P/E/G ratio of 4.49 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a 50-day moving average of $91.67 and a 200 day moving average of $89.99.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $5.36 billion. During the same period in the previous year, the firm posted $0.92 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared 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 of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's payout ratio is presently 84.13%.

Analysts Set New Price Targets

CL has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Piper Sandler upped their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus 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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