Public Employees Retirement System of Ohio bought a new position in Colgate-Palmolive Company (NYSE:CL – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 304,120 shares of the company’s stock, valued at approximately $27,882,000.
Several other hedge funds also recently added to or reduced their stakes in CL. HighPoint Advisor Group LLC grew its position in Colgate-Palmolive by 0.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after acquiring an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in shares of Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after buying an additional 113 shares in the last quarter. Cooper Financial Group increased its position in Colgate-Palmolive by 4.0% during the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after purchasing an additional 114 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Colgate-Palmolive by 0.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after buying an additional 114 shares in the last quarter. Finally, Gould Capital LLC lifted its position in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after buying an additional 115 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.
Colgate-Palmolive Stock Performance
NYSE CL opened at $90.75 on Friday. The stock has a market cap of $72.34 billion, a PE ratio of 36.01, a P/E/G ratio of 4.25 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a fifty day simple moving average of $92.02 and a 200-day simple moving average of $90.06.
Colgate-Palmolive Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.
Analysts Set New Price Targets
A number of research analysts have issued reports on CL shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Barclays raised their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Wells Fargo & Company raised their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada raised their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.
Check Out Our Latest Stock Analysis on CL
Insider Buying and Selling
In other news, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 175,191 shares of company stock valued at $16,110,903. Company insiders own 0.43% of the company’s stock.
Colgate-Palmolive Profile
Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.
The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.
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