Colgate-Palmolive Company $CL Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,400,092 shares of the company’s stock after selling 57,227 shares during the period. Russell Investments Group Ltd.’s holdings in Colgate-Palmolive were worth $128,786,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Colgate-Palmolive by 3.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,053,562 shares of the company’s stock worth $96,591,000 after buying an additional 35,749 shares during the last quarter. Evernest Financial Advisors LLC raised its stake in Colgate-Palmolive by 16.0% during the 2nd quarter. Evernest Financial Advisors LLC now owns 2,817 shares of the company’s stock valued at $258,000 after acquiring an additional 389 shares during the last quarter. Moran Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 2nd quarter worth approximately $246,000. Ellis Investment Partners LLC acquired a new stake in Colgate-Palmolive during the 2nd quarter worth approximately $216,000. Finally, Mosaic Family Wealth Partners LLC grew its stake in shares of Colgate-Palmolive by 406.8% in the 2nd quarter. Mosaic Family Wealth Partners LLC now owns 21,740 shares of the company’s stock valued at $1,993,000 after purchasing an additional 17,450 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $91.90 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The stock has a 50 day simple moving average of $91.67 and a 200-day simple moving average of $89.99. The company has a market cap of $73.26 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 4.49 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.

Colgate-Palmolive (NYSE:CL) last posted its quarterly 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. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.86 EPS 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 issued a $0.53 dividend. 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 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CL. Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. TD Cowen upped their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

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.