The Manufacturers Life Insurance Company Lowers Stake in Colgate-Palmolive Company $CL

The Manufacturers Life Insurance Company trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 670,877 shares of the company’s stock after selling 142,646 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Colgate-Palmolive worth $61,506,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC grew its position 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 in the last quarter. Triumph Capital Management grew its position in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL stock opened at $86.68 on Friday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company has a fifty day simple moving average of $91.34 and a two-hundred day simple moving average of $89.61. The firm has a market capitalization of $69.10 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 4.10 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CL shares. 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 report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Citigroup boosted their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a 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 data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Key Stories Impacting Colgate-Palmolive

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: A sale could generate cash, simplify Colgate-Palmolive’s brand portfolio and allow management to focus resources on faster-growing or higher-priority categories. The company is reportedly evaluating strategic options for some personal-care assets. Colgate-Palmolive seeks to divest some personal care brands, sources say
• Positive Sentiment: Royal Bank of Canada assigned Colgate-Palmolive an “Outperform” rating, while a separate analyst article described the company as recovering, offering some support for the stock’s longer-term investment case. Colgate-Palmolive Earns Outperform Rating from Royal Bank Of Canada
• Neutral Sentiment: Reports indicate that Goldman Sachs may be involved in exploring potential transactions, but the discussions remain preliminary and there is no announced deal or confirmed buyer. Did Colgate strike a new deal?
• Negative Sentiment: Colgate-Palmolive is reportedly considering the sale of mass-market brands including Softsoap, Irish Spring and Speed Stick. Investors may view the move as a sign that the businesses face limited growth or that management is changing its portfolio strategy, contributing to the stock’s decline. Colgate-Palmolive Stock Dips on Plan to Sell Personal Care Brands

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel Wallace sold 161,021 shares of the business’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 transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. Company insiders own 0.43% of the company’s stock.

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 products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.