Colgate-Palmolive Company $CL Shares Purchased by Madison Asset Management LLC

Key Points

• Madison Asset Management increased its Colgate-Palmolive position by 10% in the second quarter, acquiring 24,782 additional shares and bringing its holdings to 273,802 shares worth approximately $25.1 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive view of Colgate-Palmolive, with a “Moderate Buy” consensus rating and an average price target of $99.00, compared with the stock’s reported price of $90.94.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion. The company also pays a quarterly dividend of $0.53 per share, equivalent to a 2.3% annualized yield.

Madison Asset Management LLC increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 273,802 shares of the company's stock after buying an additional 24,782 shares during the quarter. Madison Asset Management LLC's holdings in Colgate-Palmolive were worth $25,102,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CL. Teacher Retirement System of Texas increased its position in Colgate-Palmolive by 35.3% in the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company's stock valued at $37,110,000 after acquiring an additional 122,634 shares during the period. Flputnam Investment Management Co. boosted its position in Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company's stock worth $15,881,000 after acquiring an additional 13,804 shares during the period. SEB Asset Management AB bought a new position in shares of Colgate-Palmolive in the first quarter worth $91,149,000. Brandywine Financial Group grew its stake in shares of Colgate-Palmolive by 35,612.3% in the first quarter. Brandywine Financial Group now owns 72,853 shares of the company's stock worth $6,209,000 after purchasing an additional 72,649 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Colgate-Palmolive by 116.5% during the fourth quarter. Caprock Group LLC now owns 64,808 shares of the company's stock valued at $5,121,000 after purchasing an additional 34,879 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Insider Activity

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 362,231 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive 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 $2,649,187.01. This trade represents a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CL shares. 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 report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $99.00.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.94 on Thursday. The firm's 50-day moving average is $91.85 and its 200-day moving average is $90.14. 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 company has a market cap of $72.49 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 4.28 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.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business's revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 84.13%.

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.

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