Colgate-Palmolive Company $CL Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 87.0% during the third quarter, Holdings Channel.com reports. The fund owned 196,811 shares of the company’s stock after purchasing an additional 91,566 shares during the period. State of Alaska Department of Revenue’s holdings in Colgate-Palmolive were worth $16,792,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after purchasing an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after purchasing an additional 88,917 shares in the last quarter. Bank of America Corp DE raised its holdings in Colgate-Palmolive by 17.4% during the 1st quarter. Bank of America Corp DE now owns 6,637,597 shares of the company’s stock worth $565,722,000 after buying an additional 986,063 shares during the period. Finally, Amundi raised its holdings in Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock worth $570,090,000 after buying an additional 1,033,918 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.1%

NYSE CL traded up $0.10 on Thursday, reaching $92.88. The stock had a trading volume of 3,781,928 shares, compared to its average volume of 5,660,953. The company has a current ratio of 1.03, a quick ratio of 0.67 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 business has a 50 day moving average price of $89.04 and a 200 day moving average price of $88.93. The company has a market capitalization of $74.04 billion, a price-to-earnings ratio of 36.84, a P/E/G ratio of 4.30 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its 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 company 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 revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, 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. Stockholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Wall Street Analyst Weigh In

CL has been the subject of several recent analyst reports. Barclays raised their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. TD Cowen boosted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Citigroup raised their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.95.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director John Cahill sold 4,170 shares of the stock in a transaction that occurred 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 in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. 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. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive 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.