Colgate-Palmolive Company $CL Shares Purchased by National Pension Service

Key Points

• National Pension Service increased its Colgate-Palmolive stake by 2.5% in the second quarter, bringing its holdings to 2.38 million shares valued at approximately $218.6 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 “Moderate Buy” consensus and an average price target of $99.00. Recent targets range from $87 to $104.
• Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 in adjusted EPS versus a $0.95 estimate, while revenue rose 4.9% year over year to $5.36 billion. Meanwhile, insiders sold roughly $16.1 million in shares during the last quarter.

National Pension Service grew its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,384,794 shares of the company's stock after purchasing an additional 59,088 shares during the quarter. National Pension Service owned approximately 0.30% of Colgate-Palmolive worth $218,638,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CL. California State Teachers Retirement System raised its position in Colgate-Palmolive by 8,327.8% during the second quarter. California State Teachers Retirement System now owns 107,033,741 shares of the company's stock worth $9,812,853,000 after acquiring an additional 105,763,733 shares during the period. Geode Capital Management LLC lifted its stake in Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company's stock valued at $1,754,657,000 after buying an additional 304,426 shares in the last quarter. Morgan Stanley boosted its holdings in Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company's stock worth $1,520,836,000 after buying an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Colgate-Palmolive by 8.1% in the 2nd 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 during the last quarter. Finally, Norges Bank purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $861,670,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CL. Barclays raised their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. TD Cowen boosted their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $101.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $99.00.

Colgate-Palmolive Price Performance

CL stock opened at $87.83 on Friday. 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 50 day simple moving average of $91.51 and a 200-day simple moving average of $89.63. The firm has a market capitalization of $70.02 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 4.10 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year 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 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the firm'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 completion of the sale, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction 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. This trade represents a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last quarter. 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 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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