Teacher Retirement System of Texas Purchases 122,634 Shares of Colgate-Palmolive Company $CL

Key Points

• Teacher Retirement System of Texas boosted its Colgate‑Palmolive stake by 35.3% in Q4, acquiring 122,634 shares to own 469,624 shares (~0.06% of the company) valued at $37.11 million.
• Colgate beat Q4 estimates with EPS of $0.95 (vs. $0.91) and revenue of $5.23B (vs. $5.13B, +5.8% YoY). The company also raised its quarterly dividend to $0.53 ($2.12 annualized, 2.5% yield; ex‑dividend Apr 20), and analysts hold a consensus "Moderate Buy" with a $95.56 price target.

Teacher Retirement System of Texas grew its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 35.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,624 shares of the company's stock after acquiring an additional 122,634 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Colgate-Palmolive worth $37,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CL. Maseco LLP bought a new stake in Colgate-Palmolive in the 4th quarter worth approximately $27,000. Copia Wealth Management purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $29,000. Cloud Capital Management LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $30,000. Global Wealth Strategies & Associates boosted its holdings in shares of Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock worth $32,000 after purchasing an additional 300 shares during the period. Finally, Grove Bank & Trust boosted its holdings in shares of Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company's stock worth $32,000 after purchasing an additional 263 shares during the period. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $83.79 on Friday. 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 18.82, a quick ratio of 0.54 and a current ratio of 0.83. The firm has a market capitalization of $67.22 billion, a P/E ratio of 31.98, a P/E/G ratio of 4.20 and a beta of 0.34. The stock has a 50 day moving average price of $89.02 and a 200 day moving average price of $83.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the company earned $0.91 EPS. Colgate-Palmolive's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, April 20th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio (DPR) is 80.92%.

Insider Buying and Selling

In other Colgate-Palmolive news, insider John Hazlin sold 20,989 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider owned 17,645 shares of the company's stock, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sally Massey sold 15,851 shares of the company's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider directly owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,683 shares of company stock worth $17,486,693 over the last quarter. Insiders own 0.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CL. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a "buy" rating in a report on Tuesday. The Goldman Sachs Group reiterated a "buy" rating and issued a $100.00 target price on shares of Colgate-Palmolive in a report on Friday, February 20th. Jefferies Financial Group lifted their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a "hold" rating in a report on Monday, February 2nd. TD Cowen reiterated a "hold" rating and issued a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Finally, Evercore lifted their target price on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.56.

About Colgate-Palmolive

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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