The Manufacturers Life Insurance Company Cuts Stock Position in Colgate-Palmolive Company $CL

The Manufacturers Life Insurance Company cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 17.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 670,877 shares of the company’s stock after selling 142,646 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Colgate-Palmolive were worth $61,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in Colgate-Palmolive during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC raised its position in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC boosted its stake in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management grew its position in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at approximately $26,000. 80.41% of the stock is currently owned by institutional investors.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was 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 Securities & Exchange Commission, 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 Colgate-Palmolive stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value 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. The trade was a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $91.27 on Wednesday. The firm’s 50 day moving average is $91.94 and its 200 day moving average is $90.10. The stock has a market capitalization of $72.76 billion, a P/E ratio of 36.22, a PEG ratio of 4.33 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 released its quarterly earnings data 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 net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

CL has been the topic of a number of research reports. TD Cowen lifted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Royal Bank Of Canada increased their price objective on Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Barclays raised their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, UBS Group increased their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target 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.