Vise Technologies Inc. raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 67.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,626 shares of the company's stock after buying an additional 29,956 shares during the quarter. Vise Technologies Inc.'s holdings in Colgate-Palmolive were worth $6,842,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company's stock valued at $6,633,570,000 after purchasing an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company's stock worth $1,754,657,000 after buying an additional 304,426 shares during the period. Morgan Stanley grew its holdings in shares of Colgate-Palmolive by 1.7% during the fourth 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Colgate-Palmolive by 8.1% during the second 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 in the last quarter. Finally, Norges Bank acquired a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $861,670,000. Institutional investors and hedge funds own 80.41% of the company's stock.
Colgate-Palmolive Price Performance
Shares of CL opened at $89.68 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The company's fifty day simple moving average is $91.86 and its 200 day simple moving average is $90.13. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a market cap of $71.49 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 4.25 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 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion during 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 for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. On average, research analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.
Colgate-Palmolive Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is 84.13%.
Insider Transactions at Colgate-Palmolive
In other news, Director John T. Cahill sold 4,170 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares of the company's stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive 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 transaction, the chief executive officer owned 362,231 shares of the company's stock, valued at $33,296,273.52. This 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. Company insiders own 0.43% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Royal Bank Of Canada upped their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Barclays increased their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $99.00.
Check Out Our Latest Stock Report on Colgate-Palmolive
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.
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