Perella Weinberg Partners Capital Management LP trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 34.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,994 shares of the company’s stock after selling 21,944 shares during the period. Perella Weinberg Partners Capital Management LP’s holdings in Colgate-Palmolive were worth $2,938,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Colgate-Palmolive by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,737,377 shares of the company’s stock worth $103,412,000 after acquiring an additional 57,606 shares in the last quarter. Geode Capital Management LLC boosted its stake in Colgate-Palmolive by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after acquiring an additional 768,550 shares in the last quarter. American Century Companies Inc. bought a new stake in Colgate-Palmolive during the fourth quarter worth about $35,365,000. CX Institutional boosted its stake in Colgate-Palmolive by 1,933.8% during the first quarter. CX Institutional now owns 3,132 shares of the company’s stock worth $215,000 after acquiring an additional 2,978 shares in the last quarter. Finally, Riverbridge Partners LLC boosted its stake in Colgate-Palmolive by 12.4% during the first quarter. Riverbridge Partners LLC now owns 29,382 shares of the company’s stock worth $2,014,000 after acquiring an additional 3,235 shares in the last quarter. 75.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CL traded down $0.06 during midday trading on Friday, hitting $71.20. The stock had a trading volume of 3,813,538 shares, compared to its average volume of 3,293,821. The firm’s 50 day moving average is $73.13. The stock has a market cap of $61.55 billion, a P/E ratio of 23.97, a P/E/G ratio of 4.62 and a beta of 0.76. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $76.41. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 32.25.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th will be paid a $0.43 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
In other news, insider Ian M. Cook sold 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $69.92, for a total transaction of $1,363,440.00. Following the completion of the transaction, the insider now directly owns 1,186,042 shares of the company’s stock, valued at $82,928,056.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Henning I. Jakobsen sold 33,854 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total transaction of $2,486,576.30. Following the transaction, the chief financial officer now directly owns 73,693 shares of the company’s stock, valued at $5,412,750.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 422,925 shares of company stock worth $30,478,467. Insiders own 1.14% of the company’s stock.
CL has been the topic of several research reports. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a research note on Friday, June 7th. UBS Group boosted their price objective on shares of Colgate-Palmolive from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. ValuEngine lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Co boosted their price objective on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a research note on Monday, April 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $73.13.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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