Jump Financial LLC Trims Stock Position in Colgate-Palmolive Company $CL

Key Points

• Jump Financial LLC reduced its stake in Colgate-Palmolive Company by 27.9%, selling 8,243 shares and retaining a total of 21,264 shares valued at approximately $1.99 million.
• Despite the sale by Jump Financial, institutional investors collectively own 80.41% of Colgate-Palmolive's stock, highlighting strong institutional interest in the company.
• Colgate-Palmolive recently reported an EPS of $0.92 for the quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.52 per share, yielding 2.5% annually.

Jump Financial LLC decreased its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 27.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,264 shares of the company's stock after selling 8,243 shares during the quarter. Jump Financial LLC's holdings in Colgate-Palmolive were worth $1,992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sax Wealth Advisors LLC raised its holdings in shares of Colgate-Palmolive by 3.5% in the first quarter. Sax Wealth Advisors LLC now owns 23,560 shares of the company's stock valued at $2,208,000 after acquiring an additional 796 shares in the last quarter. Van Hulzen Asset Management LLC lifted its position in Colgate-Palmolive by 14.1% during the 1st quarter. Van Hulzen Asset Management LLC now owns 2,228 shares of the company's stock worth $209,000 after acquiring an additional 276 shares during the period. Allstate Corp raised its stake in shares of Colgate-Palmolive by 65.8% in the first quarter. Allstate Corp now owns 38,063 shares of the company's stock worth $3,567,000 after purchasing an additional 15,104 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Colgate-Palmolive by 403.0% in the 1st quarter. 1832 Asset Management L.P. now owns 46,785 shares of the company's stock valued at $4,384,000 after acquiring an additional 37,484 shares during the last quarter. Finally, Compound Planning Inc. raised its stake in shares of Colgate-Palmolive by 5.7% during the 1st quarter. Compound Planning Inc. now owns 6,857 shares of the company's stock valued at $642,000 after buying an additional 368 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup dropped their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, UBS Group dropped their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of "Moderate Buy" and a consensus target price of $98.92.

Colgate-Palmolive Trading Up 0.7%

Shares of NYSE:CL traded up $0.62 during mid-day trading on Monday, reaching $84.04. 3,934,689 shares of the company were exchanged, compared to its average volume of 4,656,227. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market cap of $67.92 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 4.37 and a beta of 0.35. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30. The firm's 50-day simple moving average is $87.15 and its 200 day simple moving average is $89.86.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the firm earned $0.91 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.