Amundi Buys 1,033,918 Shares of Colgate-Palmolive Company $CL

Key Points

• Amundi increased its Colgate-Palmolive stake by 19.9% in the second quarter, purchasing 1,033,918 shares and bringing its holdings to 6.22 million shares valued at approximately $570.1 million.
• Institutional investors own 80.41% of Colgate-Palmolive, while company insiders have sold 175,191 shares worth about $16.1 million over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with a $99 average price target. Colgate-Palmolive recently exceeded quarterly earnings expectations, reporting $0.99 in EPS and 4.9% year-over-year revenue growth, and pays a $2.12 annualized dividend yielding 2.4%.

Amundi grew its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 19.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,218,257 shares of the company's stock after buying an additional 1,033,918 shares during the period. Amundi owned approximately 0.78% of Colgate-Palmolive worth $570,090,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Groupe la Francaise increased its stake in Colgate-Palmolive by 47.9% in the second quarter. Groupe la Francaise now owns 205,115 shares of the company's stock valued at $18,750,000 after acquiring an additional 66,392 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Colgate-Palmolive during the second quarter worth about $111,110,000. First Eagle Investment Management LLC boosted its position in Colgate-Palmolive by 1.1% during the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock valued at $752,298,000 after acquiring an additional 88,917 shares during the last quarter. Vancity Investment Management Ltd increased its stake in shares of Colgate-Palmolive by 15.1% in the 2nd quarter. Vancity Investment Management Ltd now owns 3,047 shares of the company's stock valued at $279,000 after acquiring an additional 400 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Colgate-Palmolive by 8,327.8% in the second quarter. California State Teachers Retirement System now owns 107,033,741 shares of the company's stock valued at $9,812,853,000 after acquiring an additional 105,763,733 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company's stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 175,191 shares of company stock valued at $16,110,903 in the last ninety days. 0.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CL. Citigroup increased their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. UBS Group raised their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. Finally, Piper Sandler raised their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Colgate-Palmolive Stock Up 0.0%

CL opened at $88.80 on Monday. The firm has a 50 day moving average price of $91.88 and a 200-day moving average price of $89.82. The stock has a market capitalization of $70.79 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 4.14 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter last year, the company posted $0.92 EPS. The company's revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. 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.

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