Commerzbank Aktiengesellschaft FI Purchases 68,938 Shares of Colgate-Palmolive Company $CL

Commerzbank Aktiengesellschaft FI grew its position in Colgate-Palmolive Company (NYSE:CL) by 203.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,868 shares of the company’s stock after buying an additional 68,938 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Colgate-Palmolive were worth $9,431,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CL. Teacher Retirement System of Texas lifted its stake in Colgate-Palmolive by 35.3% during the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after purchasing an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of Colgate-Palmolive by 7.4% in the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares in the last quarter. SEB Asset Management AB bought a new position in shares of Colgate-Palmolive in the 1st quarter valued at $91,149,000. Brandywine Financial Group raised its holdings in shares of Colgate-Palmolive by 35,612.3% during the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after buying an additional 72,649 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Colgate-Palmolive by 116.5% during the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock worth $5,121,000 after buying an additional 34,879 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.9%

NYSE:CL opened at $90.22 on Tuesday. The firm’s 50 day simple moving average is $91.76 and its 200 day simple moving average is $90.05. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a market cap of $71.92 billion, a PE ratio of 35.80, a P/E/G ratio of 4.48 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS 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 analyst estimates of $5.36 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, research 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. Stockholders of record on Monday, July 20th were paid a $0.53 dividend. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is currently 84.13%.

Analyst Ratings Changes

A number of research firms have recently commented on CL. Barclays increased their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Finally, Piper Sandler boosted their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Insider Buying and Selling at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction on 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 $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock in a transaction on Thursday, August 6th. The stock was 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 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. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive 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.