Waverton Investment Management Ltd Lowers Stake in Colgate-Palmolive (NYSE:CL)

Waverton Investment Management Ltd cut its stake in Colgate-Palmolive (NYSE:CL) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,847 shares of the company’s stock after selling 963 shares during the quarter. Waverton Investment Management Ltd’s holdings in Colgate-Palmolive were worth $1,343,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. National Bank of Canada FI raised its holdings in Colgate-Palmolive by 79.2% in the second quarter. National Bank of Canada FI now owns 1,175,691 shares of the company’s stock worth $112,321,000 after purchasing an additional 519,553 shares in the last quarter. TD Asset Management Inc grew its position in shares of Colgate-Palmolive by 2.6% in the 2nd quarter. TD Asset Management Inc now owns 1,184,713 shares of the company’s stock worth $114,965,000 after buying an additional 30,147 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $225,000. Wealth Effects LLC purchased a new stake in Colgate-Palmolive during the second quarter valued at approximately $210,000. Finally, Simon Quick Advisors LLC boosted its stake in Colgate-Palmolive by 4.6% in the second quarter. Simon Quick Advisors LLC now owns 5,935 shares of the company’s stock valued at $576,000 after acquiring an additional 262 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock worth $4,486,063 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Down 0.2 %

Shares of CL opened at $108.52 on Friday. The company has a market capitalization of $89.03 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.73 and a beta of 0.39. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30. The stock’s 50-day moving average price is $100.86 and its 200-day moving average price is $94.28. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, sell-side analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, July 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CL shares. Argus upped their price target on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus upped their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Colgate-Palmolive from $104.00 to $107.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, BNP Paribas began coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 target price for the company. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.53.

About Colgate-Palmolive

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.