Man Group plc Purchases 60,041 Shares of Colgate-Palmolive Company $CL

Key Points

• Man Group increased its Colgate-Palmolive stake by 6.6% in the second quarter, purchasing 60,041 shares for a total holding of 966,992 shares valued at approximately $88.7 million. Institutional investors and hedge funds collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding analysts’ $0.95 estimate, while revenue reached $5.36 billion and rose 4.9% year over year. The company maintains a quarterly dividend of $0.53 per share, representing a 2.3% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $99.00, compared with shares opening at $91.27. Recent insider selling included significant transactions by CEO Noel R. Wallace, partly to cover tax obligations related to equity awards.

Man Group plc boosted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 966,992 shares of the company's stock after buying an additional 60,041 shares during the quarter. Man Group plc owned approximately 0.12% of Colgate-Palmolive worth $88,654,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CL. Flputnam Investment Management Co. increased its stake in shares of Colgate-Palmolive by 7.4% in the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company's stock valued at $15,881,000 after buying an additional 13,804 shares during the period. SEB Asset Management AB acquired a new position in shares of Colgate-Palmolive in the first quarter worth approximately $91,149,000. Brandywine Financial Group boosted its holdings in Colgate-Palmolive by 35,612.3% in the first quarter. Brandywine Financial Group now owns 72,853 shares of the company's stock valued at $6,209,000 after acquiring an additional 72,649 shares during the last quarter. Conning Inc. boosted its holdings in Colgate-Palmolive by 10.2% in the fourth quarter. Conning Inc. now owns 426,753 shares of the company's stock valued at $33,722,000 after acquiring an additional 39,655 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in Colgate-Palmolive by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company's stock valued at $625,758,000 after purchasing an additional 29,876 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of CL opened at $91.27 on Wednesday. The firm has a market cap of $72.76 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 4.33 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The business's 50 day moving average price is $91.94 and its two-hundred day moving average price is $90.10. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

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, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during 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 company's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, equities analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio is currently 84.13%.

Insider Transactions at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CL shares. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. TD Cowen upped their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

About Colgate-Palmolive

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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