Ieq Capital LLC Increases Stake in Colgate-Palmolive Company $CL

Ieq Capital LLC increased its stake in Colgate-Palmolive Company (NYSE:CL) by 176.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 10,650 shares of the company’s stock after acquiring an additional 6,793 shares during the period. Ieq Capital LLC’s holdings in Colgate-Palmolive were worth $976,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $861,670,000. Bank of New York Mellon Corp boosted its position in shares of Colgate-Palmolive by 172.5% during the first 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 purchasing an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Colgate-Palmolive in the fourth quarter worth $236,682,000. Finally, Deutsche Bank AG grew its stake in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CL. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. TD Cowen upped their target price 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. JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Piper Sandler lifted their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Insiders Place Their Bets

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 transaction, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred 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 sale, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Trading Down 1.2%

Colgate-Palmolive stock opened at $90.97 on Friday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a market capitalization of $72.52 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. The business’s fifty day simple moving average is $92.00 and its two-hundred day simple moving average is $90.06. 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 issued its quarterly earnings results 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 firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders 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 yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

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.