Danske Bank A S Reduces Stock Holdings in Colgate-Palmolive Company $CL

Danske Bank A S lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 13.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 702,384 shares of the company’s stock after selling 107,594 shares during the quarter. Danske Bank A S owned approximately 0.09% of Colgate-Palmolive worth $64,395,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC grew its position in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC increased its stake in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management increased its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $26,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated 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 directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 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 completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Up 1.4%

CL stock opened at $91.45 on Wednesday. The stock has a market capitalization of $72.90 billion, a P/E ratio of 36.29, a PEG ratio of 4.48 and a beta of 0.33. 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 Company has a one year low of $74.54 and a one year high of $99.33. The company has a 50 day moving average price of $91.83 and a two-hundred day moving average price of $90.10.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share 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 company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm posted $0.92 EPS. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors 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 was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. UBS Group increased their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Finally, Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.