Colgate-Palmolive Company $CL Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. trimmed its stake in Colgate-Palmolive Company (NYSE:CL) by 4.4% during the third quarter, Holdings Channel reports. The fund owned 722,681 shares of the company’s stock after selling 33,535 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Colgate-Palmolive were worth $61,667,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virginia Estate & Retirement Planning Advisors Inc. boosted its position in Colgate-Palmolive by 1,409.1% during the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock worth $28,000 after purchasing an additional 310 shares during the period. Parvin Asset Management LLC acquired a new position in Colgate-Palmolive during the second quarter valued at approximately $32,000. Park Place Capital Corp raised its position in shares of Colgate-Palmolive by 55.5% in the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Cherry Tree Wealth Management LLC raised its position in shares of Colgate-Palmolive by 7,840.0% in the second quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 392 shares during the period. Finally, Montgomery Financial Services LLC acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $36,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CL. JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $104.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, November 2nd. Deutsche Bank reiterated a “buy” rating and issued a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $104.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Finally, Evercore upped their price target on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.22.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $97.84 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. The business’s 50 day moving average is $90.74 and its two-hundred day moving average is $90.22. The company has a market cap of $77.77 billion, a P/E ratio of 38.37, a P/E/G ratio of 4.44 and a beta of 0.31. Colgate-Palmolive Company has a 12 month low of $75.96 and a 12 month high of $101.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts expect that Colgate-Palmolive Company will post 3.92 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive’s payout ratio is 83.14%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 19,938 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $98.74, for a total value of $1,968,678.12. Following the completion of the sale, the chief operating officer directly owned 9,111 shares of the company’s stock, valued at $899,620.14. This represents a 68.64% decrease in their position. The sale was disclosed in a document filed 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, insider John Hazlin sold 23,376 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $99.15, for a total transaction of $2,317,730.40. Following the completion of the sale, the insider owned 27,021 shares in the company, valued at $2,679,132.15. This represents a 46.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 77,414 shares of company stock worth $7,613,786. 0.43% of the stock is owned by insiders.

About Colgate-Palmolive

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.