Flossbach Von Storch SE Sells 325,419 Shares of Colgate-Palmolive Company $CL

Flossbach Von Storch SE cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 54.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 269,501 shares of the company’s stock after selling 325,419 shares during the quarter. Flossbach Von Storch SE’s holdings in Colgate-Palmolive were worth $24,708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CL. Teacher Retirement System of Texas increased its holdings in Colgate-Palmolive by 35.3% in the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after acquiring an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in Colgate-Palmolive by 7.4% during the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares during the last quarter. SEB Asset Management AB purchased a new stake in Colgate-Palmolive during the first quarter valued at about $91,149,000. Brandywine Financial Group boosted its position in Colgate-Palmolive by 35,612.3% during the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after purchasing an additional 72,649 shares during the period. Finally, Caprock Group LLC increased its stake in shares of Colgate-Palmolive by 116.5% in the fourth quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock worth $5,121,000 after purchasing an additional 34,879 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on CL shares. UBS Group boosted their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. TD Cowen increased their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.94 on Thursday. The stock has a market cap of $72.49 billion, a P/E ratio of 36.09, a PEG ratio of 4.28 and a beta of 0.33. 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 business’s 50-day moving average price is $91.85 and its two-hundred day moving average price is $90.14. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results 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 quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders 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 yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 362,231 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 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 business’s 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 sale, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The SEC filing for this sale provides additional information. 0.43% of the stock is currently owned by corporate insiders.

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.