Reynders McVeigh Capital Management LLC Boosts Holdings in Colgate-Palmolive Company $CL

Key Points

• Reynders McVeigh Capital Management increased its Colgate-Palmolive stake by 1,193.5% in the second quarter, adding 96,803 shares to hold 104,914 shares valued at $9.6 million. Institutional investors and hedge funds 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 $99.00 versus the stock’s reported $87.00 price.
• Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 EPS versus $0.95 forecast and 4.9% year-over-year revenue growth to $5.36 billion. Meanwhile, insiders sold approximately $16.1 million in stock over the past 90 days, including sales by the CEO and COO.

Reynders McVeigh Capital Management LLC increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1,193.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 104,914 shares of the company's stock after buying an additional 96,803 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in Colgate-Palmolive were worth $9,619,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company's stock valued at $1,754,657,000 after purchasing an additional 304,426 shares during the period. Bank of New York Mellon Corp increased its position in shares of Colgate-Palmolive by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock worth $1,240,652,000 after purchasing an additional 1,010,872 shares during the last quarter. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $861,670,000. Deutsche Bank AG raised its holdings in Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after buying an additional 2,746,920 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Colgate-Palmolive by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock valued at $752,298,000 after buying an additional 88,917 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CL has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $104.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Citigroup upped their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Morgan Stanley reiterated an "overweight" rating and issued a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Barclays upped their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Twelve 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, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Colgate-Palmolive Stock Down 1.0%

NYSE:CL traded down $0.90 during midday trading on Tuesday, reaching $87.00. The company had a trading volume of 5,311,529 shares, compared to its average volume of 5,711,287. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market capitalization of $69.35 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 4.05 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The stock's fifty day simple moving average is $91.23 and its 200-day simple moving average is $89.49.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive's revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares of the company's stock, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 over the last 90 days. 0.43% of the stock is owned by corporate insiders.

About Colgate-Palmolive

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company's portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill's Science Diet and Prescription Diet pet foods.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.