Moore Capital Management LP Sells 47,644 Shares of Colgate-Palmolive Company $CL

Moore Capital Management LP decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 65.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,680 shares of the company’s stock after selling 47,644 shares during the quarter. Moore Capital Management LP’s holdings in Colgate-Palmolive were worth $2,263,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $861,670,000. Bank of New York Mellon Corp grew its position in shares of Colgate-Palmolive by 172.5% during the 1st 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 period. Bank of America Corp DE purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter worth $567,483,000. Northwestern Mutual Wealth Management Co. raised its holdings in Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after purchasing an additional 4,598,789 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive during the fourth quarter valued at $236,682,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.7%

Shares of NYSE CL opened at $90.10 on Tuesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market capitalization of $71.83 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 4.24 and a beta of 0.33. The stock has a 50 day moving average price of $92.05 and a 200 day moving average price of $90.01. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous 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 year.

Colgate-Palmolive Announces Dividend

The firm also recently announced 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 of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Royal Bank Of Canada increased their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Citigroup increased their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Piper Sandler lifted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Insider Activity

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction that occurred on 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 owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred 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. This represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

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.