Colgate-Palmolive Company $CL Stock Position Lifted by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board increased its Colgate-Palmolive stake by 73.9% in the second quarter, bringing its holdings to nearly 2 million shares worth approximately $182.1 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, versus the stock’s $92.12 opening price.
• Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 in EPS versus $0.95 forecast and 4.9% year-over-year revenue growth to $5.36 billion. The company also pays a quarterly dividend of $0.53, yielding about 2.3% annually.

Canada Pension Plan Investment Board grew its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 73.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,986,101 shares of the company's stock after acquiring an additional 844,167 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.25% of Colgate-Palmolive worth $182,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in Colgate-Palmolive in the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC lifted its position in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management boosted its holdings in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $26,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CL has been the topic of several research reports. Piper Sandler increased their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Morgan Stanley reiterated an "overweight" rating and set a $104.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada upped their price objective on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $99.00.

Colgate-Palmolive Trading Up 0.9%

Shares of NYSE:CL opened at $92.12 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company's 50-day moving average price is $91.98 and its 200 day moving average price is $90.08. The company has a market cap of $73.44 billion, a PE ratio of 36.56, a P/E/G ratio of 4.27 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

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

Colgate-Palmolive Announces Dividend

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

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the business's stock in a transaction 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 completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm's stock in a transaction on 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 directly owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last three months. 0.43% of the stock is owned by company insiders.

Colgate-Palmolive Company 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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