Colgate-Palmolive Company $CL Stock Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. raised its stake in Colgate-Palmolive Company (NYSE:CL) by 179.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,754 shares of the company’s stock after purchasing an additional 58,882 shares during the period. Colgate-Palmolive accounts for approximately 1.0% of Machina Capital S.A.S.’s investment portfolio, making the stock its 7th biggest position. Machina Capital S.A.S.’s holdings in Colgate-Palmolive were worth $7,828,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CL. State Street Corp lifted its stake in shares of Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after buying an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Colgate-Palmolive by 172.5% in 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 acquired a new position in Colgate-Palmolive in the 2nd quarter valued at about $567,483,000. Envestnet Asset Management Inc. raised its holdings in Colgate-Palmolive by 266.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after acquiring an additional 3,014,860 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Colgate-Palmolive by 151.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company’s stock valued at $364,894,000 after acquiring an additional 2,575,530 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Up 0.0%

Shares of Colgate-Palmolive stock opened at $97.95 on Wednesday. The company has a market capitalization of $77.86 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 4.43 and a beta of 0.31. The company has a quick ratio of 0.63, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. Colgate-Palmolive Company has a 12-month low of $75.96 and a 12-month high of $101.18. The firm’s 50-day moving average price is $90.42 and its two-hundred day moving average price is $90.10.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. On average, analysts forecast that Colgate-Palmolive Company will post 3.92 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 83.14%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their price objective on Colgate-Palmolive from $106.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Evercore upped their target price on Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. TD Cowen increased their target price on Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a research note on Monday, November 2nd. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Finally, Morgan Stanley boosted their price target on Colgate-Palmolive from $104.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.22.

Insider Activity at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 20,000 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $100.26, for a total transaction of $2,005,200.00. Following the completion of the transaction, the chief executive officer owned 359,700 shares of the company’s stock, valued at approximately $36,063,522. The trade was a 5.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 19,938 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $98.74, for a total transaction of $1,968,678.12. Following the completion of the transaction, the chief operating officer directly owned 9,111 shares of the company’s stock, valued at $899,620.14. This trade represents a 68.64% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 73,314 shares of company stock valued at $7,212,109 over the last three months. 0.43% of the stock is owned by insiders.

Colgate-Palmolive Company Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.