Man Group plc Raises Position in Colgate-Palmolive Company $CL

Man Group plc lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 966,992 shares of the company’s stock after buying an additional 60,041 shares during the period. Man Group plc’s holdings in Colgate-Palmolive were worth $88,654,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CL. Flputnam Investment Management Co. raised its holdings in shares of Colgate-Palmolive by 7.4% in the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares during the last quarter. SEB Asset Management AB purchased a new position in Colgate-Palmolive during the first quarter worth about $91,149,000. Brandywine Financial Group boosted its holdings in Colgate-Palmolive by 35,612.3% during the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after purchasing an additional 72,649 shares during the last quarter. Conning Inc. grew its position in Colgate-Palmolive by 10.2% in the 4th quarter. Conning Inc. now owns 426,753 shares of the company’s stock worth $33,722,000 after purchasing an additional 39,655 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Colgate-Palmolive by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock valued at $625,758,000 after buying an additional 29,876 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Royal Bank Of Canada upped their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Wells Fargo & Company increased their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. UBS Group lifted their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $91.27 on Wednesday. The firm has a market cap of $72.76 billion, a price-to-earnings ratio of 36.22, a P/E/G ratio of 4.33 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm’s 50-day simple moving average is $91.94 and its two-hundred day simple moving average is $90.10.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a $0.53 dividend. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Colgate-Palmolive 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.