Sarasin & Partners LLP Reduces Stock Position in Colgate-Palmolive (NYSE:CL)

Sarasin & Partners LLP trimmed its position in Colgate-Palmolive (NYSE:CL) by 18.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,228,215 shares of the company’s stock after selling 717,390 shares during the quarter. Colgate-Palmolive accounts for 2.8% of Sarasin & Partners LLP’s holdings, making the stock its 14th largest holding. Sarasin & Partners LLP’s holdings in Colgate-Palmolive were worth $313,266,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CL. Union Savings Bank grew its stake in Colgate-Palmolive by 76.6% during the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive during the second quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $32,000. PSI Advisors LLC boosted its position in Colgate-Palmolive by 4,971.4% during the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after purchasing an additional 348 shares in the last quarter. Finally, Core Wealth Advisors Inc. boosted its position in Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Panagiotis Tsourapas sold 14,794 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now owns 5,146 shares of the company’s stock, valued at $529,729.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the sale, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,177 shares of company stock worth $4,245,835. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $0.55 on Friday, reaching $101.99. 3,172,690 shares of the stock were exchanged, compared to its average volume of 4,407,037. The stock has a market cap of $83.68 billion, a PE ratio of 32.28, a PEG ratio of 3.54 and a beta of 0.39. The company has a current ratio of 1.06, a quick ratio of 0.28 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $104.15. The firm has a fifty day moving average price of $98.29 and a two-hundred day moving average price of $92.30.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $2.00 annualized dividend and a yield of 1.96%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley increased their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. BNP Paribas assumed coverage on Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target for the company. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Barclays lifted their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, TD Cowen lifted their target price on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.11.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.