Smith Group Asset Management LLC Has $365,000 Holdings in Colgate-Palmolive Company $CL

Smith Group Asset Management LLC cut its position in Colgate-Palmolive Company (NYSE:CL) by 61.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,980 shares of the company’s stock after selling 6,257 shares during the quarter. Smith Group Asset Management LLC’s holdings in Colgate-Palmolive were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CL. Teacher Retirement System of Texas increased its position 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 buying an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. lifted its position in shares of Colgate-Palmolive by 7.4% in the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after buying an additional 13,804 shares during the last quarter. SEB Asset Management AB acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $91,149,000. Caprock Group LLC boosted its stake 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 acquiring an additional 34,879 shares during the period. Finally, Conning Inc. boosted its stake in shares of Colgate-Palmolive by 10.2% during the 4th quarter. Conning Inc. now owns 426,753 shares of the company’s stock worth $33,722,000 after acquiring an additional 39,655 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Barclays increased their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Piper Sandler boosted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada upped their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Trading Down 1.1%

Shares of Colgate-Palmolive stock opened at $91.90 on Friday. The firm has a 50-day moving average of $91.67 and a 200-day moving average of $89.99. The stock has a market cap of $73.26 billion, a PE ratio of 36.47, a PEG ratio of 4.54 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business 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 84.13%.

Insiders Place Their Bets

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction on 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 directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The sale 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 company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by company insiders.

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.