Great Lakes Advisors LLC Reduces Stake in Colgate-Palmolive Company $CL

Great Lakes Advisors LLC trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 91,813 shares of the company’s stock after selling 26,537 shares during the quarter. Great Lakes Advisors LLC’s holdings in Colgate-Palmolive were worth $8,417,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts have commented on CL shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Piper Sandler upped their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. UBS Group increased their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price target on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Colgate-Palmolive Stock Down 0.6%

Shares of Colgate-Palmolive stock opened at $90.94 on Thursday. 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 Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a market cap of $72.49 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 4.28 and a beta of 0.33. The company has a fifty day moving average price of $91.85 and a 200 day moving average price of $90.14.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the business posted $0.92 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a dividend of $0.53 per share. 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 dividend payout ratio (DPR) is currently 84.13%.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 that occurred 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 completion of the transaction, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Company 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.