Colgate-Palmolive Company $CL Stock Position Reduced by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,770 shares of the company’s stock after selling 8,852 shares during the quarter. Daiichi Life Insurance Co. Ltd.’s holdings in Colgate-Palmolive were worth $16,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in Colgate-Palmolive in the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the period. TD Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management lifted its position in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $26,000. 80.41% of the stock is currently owned by institutional investors.

Insider Activity at Colgate-Palmolive

In related news, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was 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 of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Up 1.5%

CL stock opened at $91.02 on Friday. 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 Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The firm’s 50-day simple moving average is $91.89 and its 200 day simple moving average is $90.14. The stock has a market cap of $72.56 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 4.26 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results 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 analyst estimates of $5.36 billion. During the same period in the previous year, the business posted $0.92 EPS. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s payout ratio is 84.13%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CL. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Finally, Citigroup increased their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.00.

About Colgate-Palmolive

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.