Raiffeisen Bank International AG Sells 341,735 Shares of Colgate-Palmolive Company $CL

Raiffeisen Bank International AG trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 96.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,211 shares of the company’s stock after selling 341,735 shares during the period. Raiffeisen Bank International AG’s holdings in Colgate-Palmolive were worth $1,221,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CL. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Triumph Capital Management boosted its holdings in shares of Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $26,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In related news, Director John Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Noel Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of 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 ownership of the stock. 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 have sold 175,191 shares of company stock worth $16,110,903 in the last quarter. Company insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $88.80 on Friday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock has a market cap of $70.79 billion, a P/E ratio of 35.24, a P/E/G ratio of 4.14 and a beta of 0.33. The business’s 50 day moving average price is $91.88 and its 200-day moving average price is $89.87. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given 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 was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Wall Street Analyst Weigh In

Several research firms recently commented on CL. Piper Sandler boosted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Citigroup upped their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, UBS Group lifted their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Colgate-Palmolive 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.