Colgate-Palmolive (CL) Shares Bought by Swiss National Bank
Swiss National Bank boosted its position in Colgate-Palmolive (NYSE:CL) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,235,272 shares of the company’s stock after buying an additional 84,200 shares during the period. Swiss National Bank’s holdings in Colgate-Palmolive were worth $221,746,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of CL. Vanguard Group Inc boosted its stake in shares of Colgate-Palmolive by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after buying an additional 734,860 shares during the last quarter. BlackRock Inc. lifted its stake in Colgate-Palmolive by 13.5% in the fourth quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock valued at $3,609,804,000 after purchasing an additional 7,236,342 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Colgate-Palmolive by 3.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 32,521,377 shares of the company’s stock valued at $1,935,674,000 after purchasing an additional 1,000,161 shares during the last quarter. Northern Trust Corp lifted its stake in Colgate-Palmolive by 3.0% in the fourth quarter. Northern Trust Corp now owns 10,760,664 shares of the company’s stock valued at $640,475,000 after purchasing an additional 309,387 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Colgate-Palmolive by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock valued at $626,200,000 after purchasing an additional 768,550 shares during the last quarter. 75.65% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive stock traded up $0.47 during trading on Monday, reaching $70.09. 1,084,860 shares of the stock were exchanged, compared to its average volume of 2,862,132. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. The firm has a market cap of $59.77 billion, a P/E ratio of 23.60, a P/E/G ratio of 4.56 and a beta of 0.79. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $73.10.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a dividend of $0.43 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Wednesday, April 17th. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
In other news, insider Ian M. Cook sold 19,500 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $69.92, for a total transaction of $1,363,440.00. Following the completion of the sale, the insider now directly owns 1,186,042 shares in the company, valued at $82,928,056.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Justin Skala sold 92,643 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $70.78, for a total transaction of $6,557,271.54. Following the sale, the vice president now owns 163,653 shares of the company’s stock, valued at $11,583,359.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,711 shares of company stock valued at $25,087,935. 1.14% of the stock is currently owned by company insiders.
A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. ValuEngine raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Citigroup set a $68.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research note on Tuesday, March 19th. UBS Group raised their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, March 29th. Finally, Morgan Stanley raised their price objective on Colgate-Palmolive from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $69.53.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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