HighTower Advisors LLC Sells 278,102 Shares of Colgate-Palmolive Company $CL

HighTower Advisors LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,234 shares of the company’s stock after selling 278,102 shares during the quarter. HighTower Advisors LLC’s holdings in Colgate-Palmolive were worth $53,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its position in 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 purchasing an additional 150 shares during the period. Jessup Wealth Management Inc acquired a new stake in Colgate-Palmolive in the fourth quarter worth about $26,000. Triumph Capital Management lifted its position in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Finally, TD Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CL. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. TD Cowen raised their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada upped their price objective on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $91.90 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company’s 50 day simple moving average is $91.67 and its 200 day simple moving average is $89.99. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The stock has a market capitalization of $73.26 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 4.49 and a beta of 0.33.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insider Buying and Selling

In other Colgate-Palmolive news, 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 represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by company 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.