Quantbot Technologies LP lowered its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 95.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,504 shares of the company's stock after selling 32,067 shares during the period. Quantbot Technologies LP's holdings in Colgate-Palmolive were worth $138,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC boosted its stake in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after purchasing an additional 150 shares during the period. TD Capital Management LLC grew its holdings in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after buying an additional 124 shares in the last quarter. Triumph Capital Management grew its holdings in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after buying an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new position in Colgate-Palmolive during the 4th quarter worth $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Jefferies Financial Group restated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. UBS Group raised their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.00.
Check Out Our Latest Stock Analysis on Colgate-Palmolive
Colgate-Palmolive Price Performance
CL stock opened at $90.75 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The firm has a market cap of $72.34 billion, a P/E ratio of 36.01, a P/E/G ratio of 4.24 and a beta of 0.33. The company's 50-day moving average price is $92.02 and its two-hundred day moving average price is $90.03.
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 company had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. On average, analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive's payout ratio is currently 84.13%.
Insiders Place Their Bets
In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 362,231 shares of the company's stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 Colgate-Palmolive stock in a transaction 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. The trade was a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,191 shares of company stock worth $16,110,903 over the last three months. Insiders own 0.43% of the company's stock.
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.
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