Deutsche Bank AG Cuts Stock Holdings in Colgate-Palmolive Company $CL

Deutsche Bank AG cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,751,973 shares of the company’s stock after selling 176,188 shares during the quarter. Deutsche Bank AG’s holdings in Colgate-Palmolive were worth $1,077,421,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Perigon Wealth Management LLC raised its holdings in Colgate-Palmolive by 8.0% in the 2nd quarter. Perigon Wealth Management LLC now owns 21,327 shares of the company’s stock worth $1,955,000 after purchasing an additional 1,587 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Colgate-Palmolive by 203.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 102,868 shares of the company’s stock worth $9,431,000 after acquiring an additional 68,938 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Colgate-Palmolive during the 2nd quarter worth $2,450,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Colgate-Palmolive by 5.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,025,671 shares of the company’s stock valued at $185,714,000 after acquiring an additional 101,823 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of Colgate-Palmolive by 4.1% in the second quarter. OneDigital Investment Advisors LLC now owns 6,051 shares of the company’s stock valued at $555,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were 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 of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction that occurred 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 owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

Analyst Ratings Changes

CL has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Barclays lifted 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. JPMorgan Chase & Co. decreased their target price 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. Finally, Royal Bank Of Canada raised 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. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $90.22 on Tuesday. The firm has a market cap of $71.92 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.48 and a beta of 0.33. 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 Company has a 52 week low of $74.54 and a 52 week high of $99.33. The business’s fifty day simple moving average is $91.76 and its 200-day simple moving average is $90.05.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion during 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%.The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Equities analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a dividend of $0.53 per share. 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 dividend payout ratio (DPR) is currently 84.13%.

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.