Flossbach Von Storch SE cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 54.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,501 shares of the company's stock after selling 325,419 shares during the period. Flossbach Von Storch SE's holdings in Colgate-Palmolive were worth $24,708,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $25,000. CBIZ Investment Advisory Services LLC grew its position in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after acquiring 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 acquiring an additional 124 shares in the last quarter. Triumph Capital Management raised its stake in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $26,000. Institutional investors own 80.41% of the company's stock.
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 stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive 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 transaction, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Citigroup upped their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Morgan Stanley reissued an "overweight" rating and set a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Finally, Piper Sandler boosted their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus target price of $99.00.
Read Our Latest Stock Report on Colgate-Palmolive
Colgate-Palmolive Stock Performance
Shares of CL opened at $90.94 on Thursday. The firm's fifty day simple moving average is $91.85 and its two-hundred day simple moving average is $90.14. 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 stock has a market capitalization of $72.49 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 4.28 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data 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 company 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%. Colgate-Palmolive's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS. As a group, analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current year.
Colgate-Palmolive Announces Dividend
The firm also recently announced 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%.
Colgate-Palmolive Company 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.
Further Reading
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