Strategic Global Advisors LLC Sells 32,280 Shares of Colgate-Palmolive Company $CL

Key Points

• Strategic Global Advisors LLC cut its Colgate-Palmolive stake by 69.8% in the second quarter, selling 32,280 shares and retaining 13,950 shares valued at approximately $1.28 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating analyst estimates of $0.95, while revenue rose 4.9% year over year to $5.36 billion. The company pays a $0.53 quarterly dividend, equivalent to a 2.3% yield.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $99 price target versus the stock’s reported $92.12 price. Company insiders sold 175,191 shares worth about $16.1 million over the past three months.

Strategic Global Advisors LLC trimmed its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 69.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,950 shares of the company's stock after selling 32,280 shares during the quarter. Strategic Global Advisors LLC's holdings in Colgate-Palmolive were worth $1,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings 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 buying an additional 450 shares during the period. Woodline Partners LP lifted its holdings in shares of Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company's stock worth $4,344,000 after acquiring an additional 20,062 shares during the period. Schnieders Capital Management LLC. boosted its position in shares of Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company's stock valued at $1,136,000 after acquiring an additional 245 shares in the last quarter. Nebula Research & Development LLC boosted its position in shares of Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company's stock valued at $939,000 after acquiring an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. increased its stake in 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 acquiring an additional 116,968 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Up 0.9%

Shares of Colgate-Palmolive stock opened at $92.12 on Thursday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The stock has a market capitalization of $73.44 billion, a P/E ratio of 36.56, a price-to-earnings-growth ratio of 4.27 and a beta of 0.33. The company has a 50-day simple moving average of $91.98 and a 200 day simple moving average of $90.08. 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 (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company'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 business earned $0.92 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the 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 sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the firm'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 $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 175,191 shares of company stock valued at $16,110,903 in the last three months. 0.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CL has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. Jefferies Financial Group reaffirmed a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Morgan Stanley reiterated an "overweight" rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Barclays increased their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Finally, TD Cowen raised their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and a consensus 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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