Colgate-Palmolive Company $CL Stake Decreased by Curated Wealth Partners LLC

Curated Wealth Partners LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 98.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,266 shares of the company’s stock after selling 926,545 shares during the period. Curated Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $1,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after purchasing an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after purchasing an additional 88,917 shares during the last quarter. Amundi increased its position in shares of Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after purchasing an additional 1,033,918 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at about $567,483,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. TD Cowen upped their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Barclays lifted their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.95.

Colgate-Palmolive Trading Up 0.1%

Shares of NYSE CL traded up $0.13 during midday trading on Thursday, reaching $92.91. The company had a trading volume of 3,520,743 shares, compared to its average volume of 5,659,334. The stock has a market cap of $74.06 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The firm’s fifty day moving average price is $89.04 and its 200-day moving average price is $88.93. 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 results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.92 EPS. On average, equities research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

Insider Buying and Selling

In related news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction 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 directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Noel Wallace sold 161,021 shares of the company’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 sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. 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. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 over the last three months. 0.43% of the stock is owned by company insiders.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.