California State Teachers Retirement System Has $9.81 Billion Stock Holdings in Colgate-Palmolive Company $CL

California State Teachers Retirement System increased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 8,327.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,033,741 shares of the company's stock after purchasing an additional 105,763,733 shares during the quarter. California State Teachers Retirement System owned approximately 13.43% of Colgate-Palmolive worth $9,812,853,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after acquiring an additional 124 shares during the period. Triumph Capital Management boosted its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CL shares. 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 note on Wednesday, July 8th. Morgan Stanley reiterated an "overweight" rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Barclays increased 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. Citigroup lifted their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.00.

Colgate-Palmolive Stock Performance

CL opened at $88.37 on Wednesday. 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 business has a fifty day simple moving average of $91.75 and a 200 day simple moving average of $89.72. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a market capitalization of $70.45 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 4.14 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 EPS. Research analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

Insiders Place Their Bets

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business'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 owned 64,901 shares of the company's stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Cahill sold 4,170 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 175,191 shares of company stock worth $16,110,903 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company's portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill's Science Diet and Prescription Diet pet foods.

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