Colgate-Palmolive Company $CL Shares Sold by Carmignac Gestion

by · The Markets Daily

Carmignac Gestion trimmed its position in Colgate-Palmolive Company (NYSE:CL – Free Report) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,143 shares of the company’s stock after selling 37,059 shares during the quarter. Carmignac Gestion’s holdings in Colgate-Palmolive were worth $18,293,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Flputnam Investment Management Co. lifted its stake in Colgate-Palmolive by 7.4% during the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock worth $15,881,000 after purchasing an additional 13,804 shares during the last quarter. Brandywine Financial Group raised its holdings 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 in the last quarter. SEB Asset Management AB purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $91,149,000. Conning Inc. lifted its position in Colgate-Palmolive by 10.2% in the fourth quarter. Conning Inc. now owns 426,753 shares of the company’s stock valued at $33,722,000 after acquiring an additional 39,655 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Colgate-Palmolive by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock valued at $625,758,000 after purchasing an additional 29,876 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

In other Colgate-Palmolive news, Director John Cahill sold 4,170 shares of the stock in a transaction 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 transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded down $0.40 on Tuesday, reaching $88.37. 4,127,888 shares of the stock were exchanged, compared to its average volume of 5,739,596. The firm has a market capitalization of $70.45 billion, a PE ratio of 35.07, a PEG ratio of 4.14 and a beta of 0.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The business has a fifty day moving average price of $91.81 and a two-hundred day moving average price of $89.77. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share 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 company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Analysts Set New Price Targets

CL has been the subject of several research reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Barclays increased their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $104.00 price target on shares of Colgate-Palmolive in a report on Tuesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Get Our Latest Report on CL

Colgate-Palmolive Profile

(Free Report)

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.

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