Caisse de depot et placement du Quebec Cuts Position in Colgate-Palmolive Company $CL

Caisse de depot et placement du Quebec lowered its position in Colgate-Palmolive Company (NYSE:CL) by 40.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,291 shares of the company’s stock after selling 153,410 shares during the quarter. Caisse de depot et placement du Quebec’s holdings in Colgate-Palmolive were worth $20,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the last quarter. Woodline Partners LP lifted its holdings in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after buying an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. lifted its holdings in Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after buying an additional 245 shares during the last quarter. Nebula Research & Development LLC boosted its position in shares of Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after acquiring an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Colgate-Palmolive by 21.7% in the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock valued at $59,732,000 after acquiring an additional 116,968 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 175,191 shares of company stock worth $16,110,903 in the last 90 days. 0.43% of the stock is owned by insiders.

Colgate-Palmolive Stock Down 0.2%

Colgate-Palmolive stock opened at $90.75 on Friday. The stock has a 50-day simple moving average of $92.02 and a 200-day simple moving average of $90.06. The company has a market capitalization of $72.34 billion, a P/E ratio of 36.01, a PEG ratio of 4.25 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week 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 the consensus estimate 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 posted $0.92 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CL shares. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Barclays boosted their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Piper Sandler upped their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Company 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.