Nykredit A S Acquires New Position in Colgate-Palmolive Company $CL

Key Points

• Nykredit A/S acquired 273,665 Colgate-Palmolive shares in the second quarter, valued at approximately $25.1 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly earnings of $0.99 per share, exceeding estimates by $0.04, while revenue rose 4.9% year over year to $5.36 billion.
• The company pays a quarterly dividend of $0.53 per share, representing a 2.4% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $99.

Nykredit A S acquired a new position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 273,665 shares of the company's stock, valued at approximately $25,090,000.

A number of other large investors have also recently bought and sold shares of the business. Natural Investments LLC lifted its holdings in shares of Colgate-Palmolive by 10.9% in the 2nd quarter. Natural Investments LLC now owns 6,310 shares of the company's stock worth $578,000 after purchasing an additional 619 shares during the last quarter. Sound Financial Strategies Group LLC acquired a new position in Colgate-Palmolive during the 2nd quarter valued at approximately $296,000. Legacy Financial Advisors Inc. grew its stake in Colgate-Palmolive by 29.2% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,491 shares of the company's stock worth $320,000 after buying an additional 790 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Colgate-Palmolive during the 2nd quarter worth $608,000. Finally, Community Bank & Trust Waco Texas acquired a new stake in Colgate-Palmolive in the second quarter worth $211,000. Institutional investors own 80.41% of the company's stock.

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 175,191 shares of company stock valued at $16,110,903. Company insiders own 0.43% of the company's stock.

Colgate-Palmolive Trading Down 0.2%

NYSE:CL opened at $89.89 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The stock has a market cap of $71.66 billion, a price-to-earnings ratio of 35.67, a PEG ratio of 4.20 and a beta of 0.33. The business has a fifty day moving average of $91.95 and a 200-day moving average of $89.88. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion for 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 company's revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Equities analysts predict 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 was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive's payout ratio is 84.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Colgate-Palmolive in a report on Friday, July 31st. TD Cowen lifted their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average target price of $99.00.

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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