Vontobel Holding Ltd. Buys 109,026 Shares of Colgate-Palmolive Company $CL

Vontobel Holding Ltd. grew its position in shares of Colgate-Palmolive Company (NYSE:CL) by 43.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 360,604 shares of the company’s stock after acquiring an additional 109,026 shares during the quarter. Vontobel Holding Ltd.’s holdings in Colgate-Palmolive were worth $33,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Colgate-Palmolive by 1.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,768,425 shares of the company’s stock valued at $458,714,000 after purchasing an additional 60,159 shares in the last quarter. Regent Peak Wealth Advisors LLC bought a new stake in Colgate-Palmolive in the 2nd quarter worth about $229,000. Tema ETFs LLC increased its stake in Colgate-Palmolive by 9.6% in the 2nd quarter. Tema ETFs LLC now owns 13,213 shares of the company’s stock valued at $1,211,000 after buying an additional 1,160 shares during the last quarter. Generali Investments Management Co LLC increased its stake in Colgate-Palmolive by 22.9% in the 2nd quarter. Generali Investments Management Co LLC now owns 25,401 shares of the company’s stock valued at $2,329,000 after buying an additional 4,736 shares during the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in shares of Colgate-Palmolive by 14.8% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 564,311 shares of the company’s stock worth $51,736,000 after buying an additional 72,576 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Noel R. 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 transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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 completion of the sale, the director directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by corporate insiders.

Colgate-Palmolive Trading Down 1.1%

Shares of CL stock opened at $91.90 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The firm has a market cap of $73.26 billion, a P/E ratio of 36.47, a PEG ratio of 4.54 and a beta of 0.33. The company has a 50 day moving average of $91.67 and a 200-day moving average of $89.99. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 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 business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were paid a $0.53 dividend. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CL. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Piper Sandler boosted their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.