Deutsche Bank AG lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,751,973 shares of the company's stock after selling 176,188 shares during the quarter. Deutsche Bank AG owned approximately 1.47% of Colgate-Palmolive worth $1,077,421,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. HighPoint Advisor Group LLC raised its position in shares of Colgate-Palmolive by 0.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company's stock worth $1,255,000 after acquiring an additional 109 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Colgate-Palmolive by 2.6% during the fourth 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 in the last quarter. Cooper Financial Group grew its stake in Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company's stock valued at $270,000 after purchasing an additional 114 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Colgate-Palmolive by 0.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock worth $1,225,000 after purchasing an additional 114 shares in the last quarter. Finally, Gould Capital LLC boosted its holdings in shares of Colgate-Palmolive by 38.7% in the 1st 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. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Colgate-Palmolive
In other Colgate-Palmolive 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive 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 transaction, 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 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 corporate insiders.
Wall Street Analyst Weigh In
Several research firms have issued reports on CL. JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday. Weiss Ratings restated a "hold (c+)" rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Citigroup boosted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, UBS Group upped their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $99.00.
Check Out Our Latest Research Report on Colgate-Palmolive
Colgate-Palmolive Price Performance
Shares of NYSE:CL opened at $90.22 on Tuesday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve 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 company has a market cap of $71.92 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.48 and a beta of 0.33. The company's 50 day moving average is $91.76 and its 200 day moving average is $90.05.
Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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 analysts' expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive's payout ratio is currently 84.13%.
Colgate-Palmolive Profile
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Free Report)
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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