Allspring Global Investments Holdings LLC Reduces Stock Holdings in Colgate-Palmolive (NYSE:CL)

Allspring Global Investments Holdings LLC trimmed its position in Colgate-Palmolive (NYSE:CL) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 925,362 shares of the company’s stock after selling 110,853 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Colgate-Palmolive were worth $89,797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Omega Wealth Management LLC purchased a new stake in Colgate-Palmolive during the second quarter worth approximately $202,000. Catalyst Financial Partners LLC grew its position in Colgate-Palmolive by 10.9% in the second quarter. Catalyst Financial Partners LLC now owns 2,862 shares of the company’s stock valued at $278,000 after acquiring an additional 281 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of Colgate-Palmolive by 93.5% during the second quarter. Calamos Advisors LLC now owns 303,642 shares of the company’s stock worth $29,465,000 after purchasing an additional 146,751 shares in the last quarter. AMG National Trust Bank boosted its stake in shares of Colgate-Palmolive by 3.4% in the second quarter. AMG National Trust Bank now owns 30,196 shares of the company’s stock valued at $2,930,000 after purchasing an additional 983 shares during the period. Finally, Calamos Wealth Management LLC purchased a new stake in Colgate-Palmolive during the 2nd quarter worth $356,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $105.39 on Tuesday. The business has a 50 day simple moving average of $99.39 and a 200 day simple moving average of $93.11. Colgate-Palmolive has a one year low of $67.62 and a one year high of $105.59. The company has a market capitalization of $86.47 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 3.54 and a beta of 0.39. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.28.

Colgate-Palmolive (NYSE:CL) last issued 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 company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. On average, sell-side analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $0.50 per share. The ex-dividend date was Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.90%. Colgate-Palmolive’s payout ratio is 63.29%.

Analyst Ratings Changes

A number of analysts have weighed in on CL shares. Citigroup increased their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Jefferies Financial Group lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Barclays boosted their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Sanford C. Bernstein increased their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.11.

Insider Activity

In related news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The disclosure for this sale can be found here. Insiders have sold 41,177 shares of company stock valued at $4,245,835 over the last three months. 0.34% of the stock is owned by insiders.

About Colgate-Palmolive

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.