Colgate-Palmolive Company $CL Position Lessened by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 518,035 shares of the company’s stock after selling 21,153 shares during the period. Tocqueville Asset Management L.P.’s holdings in Colgate-Palmolive were worth $47,493,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. West Family Investments Inc. increased its position in Colgate-Palmolive by 58.1% in the 2nd quarter. West Family Investments Inc. now owns 4,054 shares of the company’s stock worth $372,000 after purchasing an additional 1,489 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Colgate-Palmolive by 18.4% during the 2nd quarter. NewEdge Wealth LLC now owns 5,048 shares of the company’s stock valued at $463,000 after buying an additional 786 shares during the last quarter. Lcnb Corp bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $206,000. Essential Partners LLC increased its holdings in Colgate-Palmolive by 325.9% in the second quarter. Essential Partners LLC now owns 1,942 shares of the company’s stock worth $178,000 after buying an additional 1,486 shares during the last quarter. Finally, Sound Financial Strategies Group LLC acquired a new position in Colgate-Palmolive in the second quarter worth approximately $296,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction dated 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 owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 company’s stock in a transaction dated 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 directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. UBS Group lifted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Morgan Stanley restated an “overweight” rating and set a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Piper Sandler lifted their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Finally, Citigroup upped their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Twelve investment 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.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $99.00.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $90.94 on Thursday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a market cap of $72.49 billion, a P/E ratio of 36.09, a P/E/G ratio of 4.28 and a beta of 0.33. The business’s 50 day moving average is $91.85 and its two-hundred day moving average is $90.14. 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 (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 company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. On average, equities analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared 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 is 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.