OMERS ADMINISTRATION Corp boosted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 38.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,779 shares of the company's stock after purchasing an additional 21,981 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Colgate-Palmolive were worth $7,314,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new position in Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC raised its position in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after buying an additional 150 shares in the last quarter. TD Capital Management LLC raised its position in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after buying an additional 124 shares in the last quarter. Triumph Capital Management lifted its holdings in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CL has been the topic of a number of research reports. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Morgan Stanley reiterated an "overweight" rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Piper Sandler increased their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.00.
Get Our Latest Report on CL
Colgate-Palmolive Stock Up 1.5%
Shares of Colgate-Palmolive stock opened at $92.46 on Tuesday. The company's 50 day moving average price is $91.93 and its 200-day moving average price is $90.12. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. 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 stock has a market capitalization of $73.71 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 4.26 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.92 EPS. Equities research analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's payout ratio is 84.13%.
Insider Buying and Selling
In other news, CEO Noel R. Wallace sold 161,021 shares of the firm'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 completion of the sale, the chief executive officer directly owned 362,231 shares of the company's stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is owned by corporate insiders.
About Colgate-Palmolive
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).
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