Pacer Advisors Inc. Cuts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Pacer Advisors Inc. reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,649 shares of the company’s stock after selling 597 shares during the period. Pacer Advisors Inc.’s holdings in Colgate-Palmolive were worth $9,088,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive in the second quarter valued at about $25,000. Core Wealth Advisors Inc. increased its holdings in Colgate-Palmolive by 56.6% in the fourth quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after buying an additional 146 shares in the last quarter. Rise Advisors LLC purchased a new position in Colgate-Palmolive in the first quarter valued at about $38,000. Continuum Advisory LLC increased its holdings in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $40,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Panagiotis Tsourapas sold 14,794 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the transaction, the insider now owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the topic of several research reports. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Citigroup increased their price target on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI increased their price target on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Bank of America increased their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price target for the company from $107.00 to $109.00 in a research report on Monday, September 9th. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.83.

Colgate-Palmolive Stock Up 0.2 %

Shares of CL opened at $103.31 on Tuesday. The firm has a market cap of $84.76 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. The company’s fifty day moving average is $102.83 and its two-hundred day moving average is $95.99. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $109.30. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 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.