Colgate-Palmolive Company $CL Stock: Ninety One UK Ltd Increases Stake

Ninety One UK Ltd raised its stake in Colgate-Palmolive Company (NYSE:CL) by 13.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,426,761 shares of the company’s stock after purchasing an additional 164,784 shares during the quarter. Ninety One UK Ltd’s holdings in Colgate-Palmolive were worth $124,573,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Colgate-Palmolive by 97.4% in the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Bank of America Corp DE bought a new stake in Colgate-Palmolive during the 2nd quarter valued at $567,483,000. Envestnet Asset Management Inc. raised its holdings in Colgate-Palmolive by 266.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after buying an additional 3,014,860 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $236,682,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.1%

Shares of CL traded down $0.05 during mid-day trading on Thursday, hitting $92.73. 3,813,922 shares of the company’s stock traded hands, compared to its average volume of 5,661,901. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a market capitalization of $73.92 billion, a P/E ratio of 36.81, a PEG ratio of 4.30 and a beta of 0.33. The business’s 50-day moving average price is $89.04 and its 200-day moving average price is $88.93.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s 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 transaction, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cahill sold 4,170 shares of the firm’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 sale, the director directly owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CL has been the topic of a number of recent analyst reports. Evercore raised their price target on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Bank of America lowered their price objective on shares of Colgate-Palmolive from $102.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Barclays upped their price objective 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. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $104.00 target price on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.95.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.