Employees Retirement System of Texas Raises Position in Colgate-Palmolive Company $CL

Employees Retirement System of Texas lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 39.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 899,843 shares of the company’s stock after purchasing an additional 254,622 shares during the period. Employees Retirement System of Texas owned 0.11% of Colgate-Palmolive worth $71,933,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the period. Norges Bank bought a new position in shares of Colgate-Palmolive in the second quarter worth about $960,390,000. Diamond Hill Capital Management Inc. lifted its position in shares of Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after buying an additional 2,572,796 shares in the last quarter. Invesco Ltd. lifted its position in shares of Colgate-Palmolive by 9.1% during the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after buying an additional 621,841 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Colgate-Palmolive by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 5,919,524 shares of the company’s stock valued at $473,207,000 after acquiring an additional 162,253 shares during the period. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CL shares. Citigroup lifted their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Jefferies Financial Group increased their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Evercore upped their target price on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.75.

Insider Buying and Selling

In related news, insider John Hazlin sold 20,989 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 15,000 shares of Colgate-Palmolive stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the transaction, the chief operating officer directly owned 10,415 shares of the company’s stock, valued at $1,018,691.15. The trade was a 59.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Trading Down 1.9%

Colgate-Palmolive stock opened at $87.94 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm’s 50 day moving average price is $89.89 and its 200-day moving average price is $83.20. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The stock has a market cap of $70.89 billion, a P/E ratio of 33.57, a PEG ratio of 4.01 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, equities analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Company Profile

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.