Impax Asset Management Group plc Decreases Stake in Colgate-Palmolive Company $CL

Impax Asset Management Group plc trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 37.4% in the second quarter, HoldingsChannel.com reports. The fund owned 130,367 shares of the company’s stock after selling 77,895 shares during the period. Impax Asset Management Group plc’s holdings in Colgate-Palmolive were worth $11,952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CL. Brighton Jones LLC increased 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 buying an additional 450 shares during the last quarter. Woodline Partners LP lifted 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 valued at $4,344,000 after buying an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. grew its stake 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 acquiring an additional 245 shares during the period. Nebula Research & Development LLC grew its stake in shares of Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after acquiring an additional 6,437 shares during the period. Finally, Sei Investments Co. increased its holdings in Colgate-Palmolive by 21.7% in 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. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CL shares. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Wells Fargo & Company lifted their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Jefferies Financial Group restated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $99.00.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Down 1.3%

Shares of NYSE CL opened at $89.68 on Friday. The business has a 50-day moving average of $91.86 and a 200-day moving average of $90.13. The firm has a market capitalization of $71.49 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 4.25 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. 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 (NYSE:CL) last posted its quarterly earnings data 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. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s payout ratio is presently 84.13%.

Colgate-Palmolive Company 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.