Colgate-Palmolive Company $CL Holdings Increased by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its Colgate-Palmolive position by 13.1% in the third quarter, adding 164,784 shares to own 1.43 million shares valued at approximately $124.6 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53, representing a 2.3% annualized yield.
• Insiders sold 175,191 shares worth about $16.1 million over the past 90 days, including significant sales by the CEO and COO. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.95, above the reported share price of $92.73.

Ninety One UK Ltd raised its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,426,761 shares of the company's stock after purchasing an additional 164,784 shares during the period. Ninety One UK Ltd owned 0.18% of Colgate-Palmolive worth $124,573,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company's stock valued at $8,635,889,000 after acquiring an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $567,483,000. Envestnet Asset Management Inc. grew its holdings in shares of Colgate-Palmolive by 266.5% during the second quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company's stock worth $380,136,000 after purchasing an additional 3,014,860 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth about $236,682,000. 80.41% of the stock is owned by institutional investors.

Insider Activity

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the business'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 completion of the sale, the chief executive officer directly owned 362,231 shares of the company's stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 175,191 shares of company stock valued at $16,110,903. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded down $0.05 during trading hours on Thursday, reaching $92.73. 3,813,922 shares of the stock traded hands, compared to its average volume of 5,661,901. The company's 50-day simple moving average is $89.04 and its two-hundred day simple moving average is $88.93. The company has a market capitalization of $73.92 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 4.30 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. 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 (NYSE:CL - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Colgate-Palmolive's revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio is 84.13%.

Wall Street Analysts Forecast Growth

CL has been the topic of several research analyst reports. Morgan Stanley restated an "overweight" rating and issued a $104.00 price objective (up from $100.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Bank of America dropped their target price on shares of Colgate-Palmolive from $102.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, October 9th. TD Cowen boosted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research note on Monday, August 3rd. Evercore increased their price target on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Finally, Jefferies Financial Group restated a "hold" rating and set a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $97.95.

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 portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom's of Maine and Hill's Science Diet.

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