Colgate-Palmolive (NYSE:CL) Shares Sold by Tobam

Tobam cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 32.5% in the 3rd quarter, Holdings Channel reports. The fund owned 3,337 shares of the company’s stock after selling 1,606 shares during the period. Tobam’s holdings in Colgate-Palmolive were worth $346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive during the 2nd quarter valued at approximately $25,000. Continuum Advisory LLC grew its position in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Colgate-Palmolive in the first quarter worth $38,000. Voisard Asset Management Group Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter valued at $40,000. Finally, Register Financial Advisors LLC bought a new position in Colgate-Palmolive during the 1st quarter valued at $48,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL opened at $99.24 on Friday. Colgate-Palmolive has a 12-month low of $68.54 and a 12-month high of $109.30. The firm’s 50 day moving average is $103.65 and its 200-day moving average is $97.05. The stock has a market capitalization of $81.09 billion, a P/E ratio of 28.77, a P/E/G ratio of 3.54 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.02%. Colgate-Palmolive’s dividend payout ratio is currently 57.97%.

Insider Activity at Colgate-Palmolive

In other news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CL shares. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. Morgan Stanley upped their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Citigroup lifted their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. BNP Paribas assumed coverage on Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target on the stock. Finally, Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.74.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.