Hsbc Holdings PLC Decreases Position in Colgate-Palmolive (NYSE:CL)

Hsbc Holdings PLC cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 3.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,722,737 shares of the company’s stock after selling 100,611 shares during the period. Hsbc Holdings PLC owned approximately 0.33% of Colgate-Palmolive worth $264,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Union Savings Bank boosted its stake in shares of Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 134 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive in the 2nd quarter valued at about $25,000. Core Wealth Advisors Inc. grew its stake in shares of Colgate-Palmolive by 56.6% during the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after acquiring an additional 146 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter worth about $38,000. Finally, Continuum Advisory LLC lifted its stake in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the sale, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore ISI raised their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. TD Cowen lifted their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. BNP Paribas began coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $102.79.

Colgate-Palmolive Trading Down 0.8 %

NYSE:CL opened at $104.59 on Wednesday. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $109.30. The business has a fifty day moving average of $102.41 and a 200-day moving average of $95.55. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. The stock has a market cap of $85.81 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 3.72 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. Equities analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.