Rakuten Investment Management Inc. bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 128,693 shares of the company’s stock, valued at approximately $11,891,000.
A number of other institutional investors have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its holdings 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 in the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after purchasing an additional 113 shares in the last quarter. Cooper Financial Group lifted its position in Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after purchasing an additional 114 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Colgate-Palmolive by 0.7% during 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 boosted its stake in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently commented on CL. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Finally, Barclays boosted their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.00.
Colgate-Palmolive Stock Down 0.2%
Shares of NYSE:CL opened at $90.75 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The firm has a market cap of $72.34 billion, a P/E ratio of 36.01, a P/E/G ratio of 4.25 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company’s 50-day moving average price is $92.02 and its two-hundred day moving average price is $90.06.
Colgate-Palmolive (NYSE:CL – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.
Insider Buying and Selling at Colgate-Palmolive
In other news, Director John T. Cahill sold 4,170 shares of the company’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 transaction, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 175,191 shares of company stock worth $16,110,903. Insiders own 0.43% of the company’s stock.
Colgate-Palmolive Company 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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