NewEdge Advisors LLC Has $7.65 Million Stock Position in Colgate-Palmolive Company $CL

Key Points

• NewEdge Advisors cut its Colgate-Palmolive position by 18% in the first quarter, selling 19,755 shares and retaining 89,721 shares valued at approximately $7.65 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $99, above the stock’s reported $92.97 price.
• Colgate-Palmolive beat quarterly earnings expectations with EPS of $0.99 versus $0.95 expected, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53, representing a 2.3% annualized yield.

NewEdge Advisors LLC reduced its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 18.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,721 shares of the company's stock after selling 19,755 shares during the period. NewEdge Advisors LLC's holdings in Colgate-Palmolive were worth $7,647,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after purchasing an additional 450 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Colgate-Palmolive by 76.3% during the first quarter. Woodline Partners LP now owns 46,361 shares of the company's stock worth $4,344,000 after purchasing an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Colgate-Palmolive by 2.0% during the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company's stock worth $1,136,000 after purchasing an additional 245 shares during the last quarter. Nebula Research & Development LLC increased its stake in shares of Colgate-Palmolive by 165.5% in the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company's stock valued at $939,000 after buying an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Colgate-Palmolive by 21.7% in the second quarter. Sei Investments Co. now owns 657,093 shares of the company's stock valued at $59,732,000 after buying an additional 116,968 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CL shares. Citigroup upped their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a "buy" rating in a report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.00.

Colgate-Palmolive Trading Down 0.3%

NYSE:CL opened at $92.97 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The firm has a market capitalization of $74.11 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 4.55 and a beta of 0.33. The business's 50-day moving average price is $91.22 and its two-hundred day moving average price is $89.83.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm 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 business's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's payout ratio is currently 84.13%.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 362,231 shares of the company's stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by corporate insiders.

Colgate-Palmolive 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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