Corient Private Wealth LP Acquires 143,812 Shares of Colgate-Palmolive Company $CL

Key Points

• Corient Private Wealth increased its Colgate-Palmolive stake by 29% in the second quarter, adding 143,812 shares to own 639,604 shares valued at approximately $58.6 million.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates of $0.95, while revenue rose 4.9% year over year to $5.36 billion. The stock opened at $86.68, below its 52-week high of $99.33.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $99 price target, although the company is reportedly considering selling personal-care brands and insiders have sold shares recently.

Corient Private Wealth LP raised its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 29.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 639,604 shares of the company's stock after acquiring an additional 143,812 shares during the quarter. Corient Private Wealth LP owned about 0.08% of Colgate-Palmolive worth $58,639,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC lifted its stake in shares of Colgate-Palmolive by 2.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock valued at $356,000 after purchasing an additional 113 shares during the last quarter. Cooper Financial Group increased its position in Colgate-Palmolive by 4.0% during the second quarter. Cooper Financial Group now owns 2,947 shares of the company's stock worth $270,000 after buying an additional 114 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock worth $1,225,000 after buying an additional 114 shares during the last quarter. Gould Capital LLC raised its holdings in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company's stock valued at $35,000 after buying an additional 115 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its position in shares of Colgate-Palmolive by 2.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock worth $397,000 after buying an additional 118 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Down 1.4%

Colgate-Palmolive stock opened at $86.68 on Friday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week 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 firm has a market capitalization of $69.10 billion, a PE ratio of 34.40, a PEG ratio of 4.05 and a beta of 0.33. The business's 50-day simple moving average is $91.34 and its 200-day simple moving average is $89.61.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. Equities research analysts forecast that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

More Colgate-Palmolive News

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: A sale could generate cash, simplify Colgate-Palmolive’s brand portfolio and allow management to focus resources on faster-growing or higher-priority categories. The company is reportedly evaluating strategic options for some personal-care assets. Colgate-Palmolive seeks to divest some personal care brands, sources say
• Positive Sentiment: Royal Bank of Canada assigned Colgate-Palmolive an “Outperform” rating, while a separate analyst article described the company as recovering, offering some support for the stock’s longer-term investment case. Colgate-Palmolive Earns Outperform Rating from Royal Bank Of Canada
• Neutral Sentiment: Reports indicate that Goldman Sachs may be involved in exploring potential transactions, but the discussions remain preliminary and there is no announced deal or confirmed buyer. Did Colgate strike a new deal?
• Negative Sentiment: Colgate-Palmolive is reportedly considering the sale of mass-market brands including Softsoap, Irish Spring and Speed Stick. Investors may view the move as a sign that the businesses face limited growth or that management is changing its portfolio strategy, contributing to the stock’s decline. Colgate-Palmolive Stock Dips on Plan to Sell Personal Care Brands

Insider Activity

In related 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 transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CL shares. UBS Group upped their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Barclays upped their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Sanford C. Bernstein reiterated a "market perform" rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company's portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill's Science Diet and Prescription Diet pet foods.

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