Colgate-Palmolive Company $CL Stock Sold by PineStone Asset Management Inc.

PineStone Asset Management Inc. reduced its holdings in Colgate-Palmolive Company (NYSE:CL) by 6.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,368,699 shares of the company’s stock after selling 94,100 shares during the quarter. Colgate-Palmolive makes up 0.8% of PineStone Asset Management Inc.’s portfolio, making the stock its 27th biggest position. PineStone Asset Management Inc.’s holdings in Colgate-Palmolive were worth $116,777,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CL. Corient Private Wealth LP grew its holdings in shares of Colgate-Palmolive by 29.0% during the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock valued at $58,639,000 after purchasing an additional 143,812 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $567,483,000. Brandywine Financial Group raised its position in shares of Colgate-Palmolive by 35,612.3% during the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after purchasing an additional 72,649 shares during the period. SEB Asset Management AB bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $91,149,000. Finally, Robinhood Asset Management LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $11,554,000. Institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last three months. 0.43% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $94.02 on Friday. The firm’s 50 day moving average is $89.05 and its two-hundred day moving average is $89.02. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm has a market capitalization of $74.95 billion, a P/E ratio of 37.31, a PEG ratio of 4.50 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

Analyst Ratings Changes

CL has been the subject of a number of analyst reports. Bank of America reduced their price objective on Colgate-Palmolive from $102.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Raymond James Financial increased their target price on Colgate-Palmolive from $100.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Evercore raised their target price on Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. Finally, Piper Sandler reduced their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, September 21st. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.95.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.