Colgate-Palmolive (NYSE:CL) Holdings Reduced by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,024 shares of the company’s stock after selling 2,633 shares during the period. DoubleLine ETF Adviser LP’s holdings in Colgate-Palmolive were worth $3,205,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on CL shares. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley upped their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. BNP Paribas initiated coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They issued an “outperform” rating and a $109.00 price objective on the stock. UBS Group increased their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, TD Cowen lifted their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.74.

Colgate-Palmolive Price Performance

CL stock opened at $103.76 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The firm has a market cap of $85.13 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 3.62 and a beta of 0.40. The company’s fifty day simple moving average is $102.96 and its 200 day simple moving average is $96.10. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Activity

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

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.