Colgate-Palmolive Company $CL Shares Acquired by Jacobs & Co. CA

Key Points

• Jacobs & Co. CA increased its Colgate-Palmolive stake by 955.3% in the third quarter, acquiring 46,000 additional shares for a total holding of 50,815 shares valued at approximately $4.34 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds, producing a consensus “Moderate Buy” rating and an average price target of $98.65.
• Colgate-Palmolive exceeded quarterly earnings expectations with EPS of $0.99 versus $0.95 expected, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53, representing a 2.4% annualized yield.

Jacobs & Co. CA increased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 955.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,815 shares of the company's stock after acquiring an additional 46,000 shares during the period. Jacobs & Co. CA's holdings in Colgate-Palmolive were worth $4,336,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company's stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock worth $1,240,652,000 after buying an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Colgate-Palmolive by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock worth $752,298,000 after buying an additional 88,917 shares during the period. Bank of America Corp DE lifted its position in shares of Colgate-Palmolive by 17.4% during the 1st quarter. Bank of America Corp DE now owns 6,637,597 shares of the company's stock valued at $565,722,000 after buying an additional 986,063 shares in the last quarter. Finally, Amundi lifted its position in shares of Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock valued at $570,090,000 after buying an additional 1,033,918 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

CL has been the topic of a number of analyst reports. Jefferies Financial Group restated a "hold" rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Citigroup raised their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings lowered Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 2nd. TD Cowen increased their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Finally, Barclays boosted their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $98.65.

Colgate-Palmolive Trading Up 0.1%

Shares of NYSE CL opened at $88.19 on Friday. 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 $89.10 and its 200-day moving average price is $88.77. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a market cap of $70.31 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 4.11 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The business's revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued 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 2.4%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the company'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 sale, the chief executive officer directly owned 362,231 shares of the company's stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Colgate-Palmolive 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 transaction, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 175,191 shares of company stock worth $16,110,903. Company insiders own 0.43% of the company's stock.

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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