Colgate-Palmolive Company $CL Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its stake in Colgate-Palmolive Company (NYSE:CL) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,611 shares of the company’s stock after acquiring an additional 5,591 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Colgate-Palmolive were worth $9,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CL. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC raised its position in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares during the period. TD Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management grew its holdings in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $26,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Citigroup upped their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, UBS Group raised their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Colgate-Palmolive Price Performance

Shares of CL opened at $91.02 on Monday. The company has a market cap of $72.56 billion, a P/E ratio of 36.12, a PEG ratio of 4.26 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. 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’s 50 day moving average price is $91.89 and its 200 day moving average price is $90.13.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. On average, research analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Insider Activity

In other news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is owned by corporate insiders.

About Colgate-Palmolive

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.