Jones Financial Companies Lllp Lowers Stock Holdings in Colgate-Palmolive Company $CL

Jones Financial Companies Lllp cut its position in Colgate-Palmolive Company (NYSE:CL) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,669 shares of the company’s stock after selling 25,864 shares during the quarter. Jones Financial Companies Lllp’s holdings in Colgate-Palmolive were worth $17,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC boosted its holdings in Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC increased its holdings in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after purchasing an additional 113 shares during the period. Cooper Financial Group raised its holdings in Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after acquiring an additional 114 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Colgate-Palmolive by 0.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after acquiring an additional 114 shares during the last quarter. Finally, Gould Capital LLC increased its position in shares of Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $92.46 on Tuesday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The stock has a market capitalization of $73.71 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 4.26 and a beta of 0.33. The company has a 50-day simple moving average of $91.93 and a 200-day simple moving average of $90.12. 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 (NYSE:CL) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s payout ratio is currently 84.13%.

Insiders Place Their Bets

In other news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive 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 completion of the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CL. TD Cowen raised their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. 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 analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

About Colgate-Palmolive

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.