First Eagle Investment Management LLC Acquires 3,139 Shares of Colgate-Palmolive Co. (CL)
First Eagle Investment Management LLC raised its position in Colgate-Palmolive Co. (NYSE:CL) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,673,993 shares of the company’s stock after buying an additional 3,139 shares during the period. First Eagle Investment Management LLC owned 0.52% of Colgate-Palmolive worth $342,136,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock worth $2,900,908,000 after buying an additional 7,453,260 shares during the period. Alecta Pensionsforsakring Omsesidigt purchased a new stake in Colgate-Palmolive during the first quarter worth $343,359,000. Emerald Acquisition Ltd. purchased a new stake in Colgate-Palmolive during the second quarter worth $214,435,000. Ameriprise Financial Inc. boosted its stake in Colgate-Palmolive by 142.6% in the second quarter. Ameriprise Financial Inc. now owns 1,881,639 shares of the company’s stock worth $137,710,000 after buying an additional 1,106,185 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Colgate-Palmolive during the second quarter worth $64,888,000. Institutional investors own 73.25% of the company’s stock.
Shares of Colgate-Palmolive Co. (NYSE:CL) traded up 0.73% on Tuesday, hitting $72.72. 1,254,131 shares of the company’s stock traded hands. The company has a market cap of $64.83 billion, a price-to-earnings ratio of 46.83 and a beta of 0.59. The firm’s 50-day moving average price is $74.03 and its 200 day moving average price is $72.05. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Colgate-Palmolive had a net margin of 9.04% and a return on equity of 1,980.28%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Colgate-Palmolive Co. will post $2.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.56 annualized dividend and a dividend yield of 2.16%. Colgate-Palmolive’s dividend payout ratio is presently 100.65%.
A number of analysts recently weighed in on CL shares. Atlantic Securities started coverage on shares of Colgate-Palmolive in a report on Wednesday, June 1st. They issued an “overweight” rating on the stock. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $76.00 price objective (up previously from $74.00) on shares of Colgate-Palmolive in a report on Friday, July 15th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price objective (up previously from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. B. Riley reaffirmed a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 29th. Finally, BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a report on Friday, July 29th. Fifteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $74.46.
In related news, Director Ellen M. Hancock sold 4,584 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $74.82, for a total transaction of $342,974.88. Following the transaction, the director now owns 203,632 shares in the company, valued at approximately $15,235,746.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Patricia Verduin sold 3,666 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $74.98, for a total transaction of $274,876.68. Following the transaction, the chief technology officer now owns 54,602 shares in the company, valued at approximately $4,094,057.96. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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