Sompo Asset Management Co. Ltd. Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

Sompo Asset Management Co. Ltd. trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 12.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,007 shares of the company’s stock after selling 7,400 shares during the period. Colgate-Palmolive comprises approximately 0.9% of Sompo Asset Management Co. Ltd.’s holdings, making the stock its 29th largest holding. Sompo Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $5,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Main Street Research LLC raised its stake in Colgate-Palmolive by 1.5% during the second quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock valued at $673,000 after buying an additional 100 shares in the last quarter. Advisor OS LLC raised its position in shares of Colgate-Palmolive by 4.5% during the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after acquiring an additional 101 shares in the last quarter. BLB&B Advisors LLC lifted its stake in Colgate-Palmolive by 2.5% during the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after purchasing an additional 104 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its holdings in Colgate-Palmolive by 3.1% in the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after purchasing an additional 109 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in Colgate-Palmolive by 9.5% during the second quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock valued at $124,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Trading Up 1.0 %

Shares of NYSE CL opened at $103.03 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30. The business has a 50-day moving average price of $102.71 and a two-hundred day moving average price of $95.76. The firm has a market capitalization of $84.53 billion, a PE ratio of 32.60, a PEG ratio of 3.72 and a beta of 0.40.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. UBS Group increased their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Wells Fargo & Company lowered Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a research report on Monday, September 16th. Hsbc Global Res cut shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Bank of America lifted their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.79.

Colgate-Palmolive Company 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.