Jones Financial Companies Lllp Sells 25,864 Shares of Colgate-Palmolive Company $CL

Key Points

• Jones Financial Companies reduced its Colgate-Palmolive stake by 12.2%, selling 25,864 shares and retaining 186,669 shares valued at approximately $17.2 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a favorable outlook, with 12 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $99, above the reported share price of $92.46.
• Colgate-Palmolive exceeded quarterly EPS expectations, reporting $0.99 versus the $0.95 consensus, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53, equivalent to a 2.3% annualized yield.

Jones Financial Companies Lllp lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 12.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,669 shares of the company's stock after selling 25,864 shares during the quarter. Jones Financial Companies Lllp's holdings in Colgate-Palmolive were worth $17,184,000 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. Kemnay Advisory Services Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after purchasing an additional 150 shares in the last quarter. TD Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management boosted its position in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive during the 4th quarter worth $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CL shares. Morgan Stanley reiterated an "overweight" rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. TD Cowen raised their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. The Goldman Sachs Group reissued a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.00.

Insider Buying and Selling

In other news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred 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 owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 that occurred 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 completion of the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $92.46 on Tuesday. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The stock has a market capitalization of $73.71 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 4.26 and a beta of 0.33. The firm's 50 day simple moving average is $91.93 and its 200-day simple moving average is $90.12. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. Analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive's dividend payout ratio is presently 84.13%.

Colgate-Palmolive Company 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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