Wealthfront Advisers LLC Grows Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Wealthfront Advisers increased its Colgate-Palmolive stake by 15.8% in the second quarter, bringing its holdings to 305,090 shares valued at approximately $28.0 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds, producing a consensus “Moderate Buy” rating and an average price target of $99. Colgate-Palmolive also exceeded quarterly EPS estimates, reporting $0.99 versus $0.95 expected, while revenue rose 4.9% year over year.
• The company pays a quarterly dividend of $0.53, equivalent to an annualized $2.12 and a 2.3% yield. Recent insider activity was mostly selling, including CEO Noel Wallace’s 161,021-share sale, which was made to cover tax obligations tied to equity awards.

Wealthfront Advisers LLC raised its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 305,090 shares of the company's stock after buying an additional 41,712 shares during the period. Wealthfront Advisers LLC's holdings in Colgate-Palmolive were worth $27,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth $861,670,000. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after acquiring an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive in the fourth quarter worth about $236,682,000. Finally, Deutsche Bank AG grew its stake in shares of Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CL shares. Wells Fargo & Company upped 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. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a "buy" rating in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, UBS Group boosted their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

Insider Buying and Selling at Colgate-Palmolive

In related news, 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 transaction of $389,352.90. Following 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the 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 completion of the sale, the chief executive officer owned 362,231 shares of the company's stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. 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. 0.43% of the stock is owned by company insiders.

Colgate-Palmolive Trading Up 1.4%

Shares of NYSE:CL opened at $91.45 on Wednesday. The stock has a 50 day moving average of $91.83 and a 200 day moving average of $90.10. The company has a market cap of $72.90 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 4.48 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. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping 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 company had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter last year, the business earned $0.92 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed 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 of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio 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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