KBC Group NV Lowers Stake in Colgate-Palmolive Company $CL

KBC Group NV reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,172 shares of the company’s stock after selling 27,336 shares during the period. KBC Group NV’s holdings in Colgate-Palmolive were worth $25,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HighPoint Advisor Group LLC increased its stake in Colgate-Palmolive by 0.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC increased its stake in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after buying an additional 113 shares during the period. Cooper Financial Group lifted its holdings in Colgate-Palmolive by 4.0% during the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after buying an additional 114 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after acquiring an additional 114 shares in the last quarter. Finally, Gould Capital LLC increased its position in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction dated 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 directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CL. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. TD Cowen raised their target price on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday. Finally, UBS Group boosted their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $91.90 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 52 week low of $74.54 and a 52 week high of $99.33. The firm’s 50 day moving average is $91.67 and its two-hundred day moving average is $89.99. The firm has a market capitalization of $73.26 billion, a P/E ratio of 36.47, a P/E/G ratio of 4.49 and a beta of 0.33.

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

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive 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.