UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $593.30 Million Stake in Colgate-Palmolive Company $CL

Key Points

• UBS AM reduced its Colgate-Palmolive position by 5.2% in the second quarter, selling 357,560 shares. It still held 6.47 million shares worth approximately $593.3 million, or 0.81% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $99.00. Recent targets range from $90 to $110.
• Colgate-Palmolive exceeded quarterly EPS expectations, reporting $0.99 versus the $0.95 consensus, while revenue rose 4.9% year over year to $5.36 billion. The company also pays a quarterly dividend of $0.53 per share, representing a 2.3% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,471,404 shares of the company's stock after selling 357,560 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.81% of Colgate-Palmolive worth $593,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC raised its stake in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after buying an additional 124 shares during the period. Triumph Capital Management raised its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $26,000. Institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 8th. TD Cowen raised their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Jefferies Financial Group restated a "hold" rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company's stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,191 shares of company stock valued at $16,110,903 in the last three months. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Stock Performance

CL stock opened at $90.75 on Monday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a market capitalization of $72.34 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 4.24 and a beta of 0.33. The company's 50-day simple moving average is $92.02 and its 200 day simple moving average is $90.03. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were paid 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 was Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is 84.13%.

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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