TD Asset Management Inc Sells 229,662 Shares of Colgate-Palmolive Company $CL

TD Asset Management Inc decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 6.4% in the 2nd quarter, Holdings Channel reports. The firm owned 3,344,462 shares of the company’s stock after selling 229,662 shares during the period. TD Asset Management Inc’s holdings in Colgate-Palmolive were worth $306,620,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Royal Bank Of Canada boosted their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Citigroup lifted their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Down 1.1%

Shares of NYSE:CL opened at $91.90 on Friday. The stock has a market capitalization of $73.26 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 4.54 and a beta of 0.33. The stock’s 50-day moving average price is $91.67 and its 200-day moving average price is $89.99. 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 Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its 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 during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. On average, equities analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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