TD Waterhouse Canada Inc. Reduces Stock Position in Colgate-Palmolive Company $CL

TD Waterhouse Canada Inc. trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,235 shares of the company’s stock after selling 23,980 shares during the period. TD Waterhouse Canada Inc. owned about 0.05% of Colgate-Palmolive worth $37,417,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its stake in Colgate-Palmolive by 86.7% in 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. Jessup Wealth Management Inc purchased a new stake in Colgate-Palmolive in the 4th quarter worth approximately $26,000. Triumph Capital Management raised its holdings in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the last quarter. Finally, TD Capital Management LLC raised its holdings in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John Cahill sold 4,170 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Noel Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This 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 sold 175,191 shares of company stock worth $16,110,903 over the last three months. 0.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CL shares. Morgan Stanley restated an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. TD Cowen raised their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, Piper Sandler lifted their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Stock Down 1.4%

Shares of CL opened at $88.80 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company’s fifty day moving average is $91.88 and its two-hundred day moving average is $89.87. The firm has a market cap of $70.79 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 4.20 and a beta of 0.33. 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 released its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Analysts forecast that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

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.