Colgate-Palmolive Company $CL Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 22.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,813 shares of the company’s stock after selling 26,537 shares during the period. Great Lakes Advisors LLC’s holdings in Colgate-Palmolive were worth $8,417,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CL. Brighton Jones LLC grew its position in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares during the period. Woodline Partners LP boosted its position 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 purchasing 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 worth $1,136,000 after purchasing an additional 245 shares during the period. Nebula Research & Development LLC increased its holdings in Colgate-Palmolive by 165.5% in the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock valued at $939,000 after purchasing an additional 6,437 shares during the last quarter. Finally, Sei Investments Co. raised its position 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 purchasing an additional 116,968 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.6%

CL stock opened at $90.94 on Thursday. 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 twelve month low of $74.54 and a twelve month high of $99.33. The company’s 50 day moving average is $91.85 and its two-hundred day moving average is $90.14. The stock has a market cap of $72.49 billion, a P/E ratio of 36.09, a PEG ratio of 4.28 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal 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 issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Insiders Place Their Bets

In related news, 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 transaction of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’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 sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents 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 corporate insiders.

Analysts Set New Price Targets

CL has been the subject of several research analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. TD Cowen increased their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. UBS Group raised their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Citigroup boosted their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Barclays raised their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.