VIRGINIA RETIREMENT SYSTEMS ET Al Invests $111.11 Million in Colgate-Palmolive Company $CL

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the second quarter, Holdings Channel.com reports. The firm bought 1,211,938 shares of the company’s stock, valued at approximately $111,110,000. Colgate-Palmolive makes up about 0.7% of VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighPoint Advisor Group LLC boosted its position in Colgate-Palmolive by 0.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after acquiring an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in Colgate-Palmolive by 2.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after acquiring an additional 113 shares during the last quarter. Cooper Financial Group lifted its stake in Colgate-Palmolive by 4.0% in the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after purchasing an additional 114 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Colgate-Palmolive by 0.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after purchasing an additional 114 shares in the last quarter. Finally, Gould Capital LLC boosted its holdings in shares of Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 175,191 shares of company stock valued at $16,110,903 over the last 90 days. 0.43% of the stock is owned by company insiders.

Colgate-Palmolive Trading Up 0.0%

CL opened at $88.80 on Monday. The stock has a market capitalization of $70.79 billion, a PE ratio of 35.24, a P/E/G ratio of 4.14 and a beta of 0.33. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The business’s 50 day moving average price is $91.88 and its 200 day moving average price is $89.82.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Analyst Upgrades and Downgrades

CL has been the subject of a number of analyst reports. UBS Group upped their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

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.