Colgate-Palmolive Company $CL Stake Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 73.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,986,101 shares of the company’s stock after acquiring an additional 844,167 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Colgate-Palmolive were worth $182,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. increased its stake 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 worth $15,881,000 after purchasing an additional 13,804 shares during the period. SEB Asset Management AB bought a new stake in Colgate-Palmolive during the 1st quarter valued at approximately $91,149,000. Brandywine Financial Group grew its holdings in Colgate-Palmolive by 35,612.3% in the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after buying an additional 72,649 shares during the last quarter. Conning Inc. increased 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 buying an additional 39,655 shares during the period. Finally, First Eagle Investment Management LLC increased its position 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 worth $625,758,000 after buying an additional 29,876 shares during the period. Institutional investors own 80.41% of the company’s stock.

Insider Activity

In other news, Director John T. Cahill sold 4,170 shares of the stock in a transaction 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 sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 175,191 shares of company stock worth $16,110,903. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CL. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Citigroup raised their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada boosted their price objective on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Barclays upped their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Stock Up 0.9%

CL opened at $92.12 on Thursday. The company has a market capitalization of $73.44 billion, a P/E ratio of 36.56, a P/E/G ratio of 4.27 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The firm’s fifty day moving average price is $91.98 and its two-hundred day moving average price is $90.08. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted 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. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. On average, analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

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.