TD Asset Management Inc Has $306.62 Million Stake in Colgate-Palmolive Company $CL

Key Points

• TD Asset Management reduced its Colgate-Palmolive stake by 6.4% in the second quarter, selling 229,662 shares but retaining 3.34 million shares valued at $306.6 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion. The company also maintains a quarterly dividend of $0.53 per share, representing a 2.3% annualized yield.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $99, compared with shares opening at $91.90. Company insiders sold shares, including a CEO transaction largely made to cover tax withholding on vested equity awards.

TD Asset Management Inc lowered its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,344,462 shares of the company's stock after selling 229,662 shares during the quarter. TD Asset Management Inc owned 0.42% of Colgate-Palmolive worth $306,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of 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 grew its holdings in 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 buying an additional 20,062 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in 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 lifted its stake in 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. boosted its holdings in Colgate-Palmolive by 21.7% during the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company's stock worth $59,732,000 after acquiring an additional 116,968 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John T. Cahill sold 4,170 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. 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. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Stock Down 1.1%

Shares of NYSE:CL opened at $91.90 on Friday. The company has a market capitalization of $73.26 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 4.54 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The business has a fifty day moving average price of $91.67 and a two-hundred day moving average price of $89.99. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The company's revenue was up 4.9% on a year-over-year basis. Analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CL. Barclays upped their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. Royal Bank Of Canada boosted their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

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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