Colgate-Palmolive Company $CL Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 27.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 17,811 shares of the company’s stock after selling 6,780 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Colgate-Palmolive were worth $1,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CL. State Street Corp lifted its holdings in shares of Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after acquiring an additional 46,476,510 shares during the period. Bank of New York Mellon Corp raised its position in Colgate-Palmolive by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after purchasing an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC raised its position in Colgate-Palmolive by 1.1% during the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after purchasing an additional 88,917 shares in the last quarter. Bank of America Corp DE lifted its stake in Colgate-Palmolive by 17.4% during the first quarter. Bank of America Corp DE now owns 6,637,597 shares of the company’s stock worth $565,722,000 after purchasing an additional 986,063 shares during the last quarter. Finally, Amundi lifted its stake in Colgate-Palmolive by 19.9% during the second quarter. Amundi now owns 6,218,257 shares of the company’s stock worth $570,090,000 after purchasing an additional 1,033,918 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Transactions at Colgate-Palmolive

In other news, Director John Cahill sold 4,170 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 175,191 shares of company stock valued at $16,110,903 in the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CL. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Barclays lifted their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.65.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $88.07 on Friday. The company has a fifty day moving average of $89.16 and a 200-day moving average of $88.77. The firm has a market capitalization of $70.21 billion, a P/E ratio of 34.95, a P/E/G ratio of 4.07 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 twelve month low of $74.54 and a twelve month high of $99.33.

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, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.