IFM Investors Pty Ltd Raises Stake in Colgate-Palmolive (NYSE:CL)

IFM Investors Pty Ltd lifted its position in shares of Colgate-Palmolive (NYSE:CLGet Rating) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,129 shares of the company’s stock after buying an additional 11,864 shares during the quarter. IFM Investors Pty Ltd’s holdings in Colgate-Palmolive were worth $11,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Bancorp Inc ME purchased a new stake in Colgate-Palmolive in the second quarter valued at approximately $291,000. Adviser Investments LLC lifted its position in Colgate-Palmolive by 2,174.4% during the second quarter. Adviser Investments LLC now owns 76,578 shares of the company’s stock valued at $6,137,000 after buying an additional 73,211 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in Colgate-Palmolive during the second quarter valued at approximately $205,000. Boenning & Scattergood Inc. lifted its position in Colgate-Palmolive by 4.4% during the second quarter. Boenning & Scattergood Inc. now owns 17,811 shares of the company’s stock valued at $1,427,000 after buying an additional 754 shares in the last quarter. Finally, IMS Capital Management acquired a new position in Colgate-Palmolive during the second quarter valued at approximately $255,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 51,665 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $81.27, for a total value of $4,198,814.55. Following the completion of the sale, the chief executive officer now directly owns 221,790 shares of the company’s stock, valued at approximately $18,024,873.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 51,665 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $81.27, for a total transaction of $4,198,814.55. Following the completion of the sale, the chief executive officer now directly owns 221,790 shares of the company’s stock, valued at $18,024,873.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Prabha Parameswaran sold 48,778 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $78.80, for a total transaction of $3,843,706.40. Following the sale, the insider now directly owns 6,787 shares of the company’s stock, valued at $534,815.60. The disclosure for this sale can be found here. Insiders sold 125,802 shares of company stock valued at $10,100,532 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company raised shares of Colgate-Palmolive to an “equal weight” rating in a research report on Tuesday, August 9th. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $79.00 to $78.00 in a research report on Thursday, July 21st. Barclays boosted their target price on shares of Colgate-Palmolive from $71.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 2nd. UBS Group boosted their target price on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Colgate-Palmolive from $88.00 to $87.00 in a report on Tuesday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $84.57.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded up $0.44 during trading on Thursday, hitting $75.34. 251,338 shares of the stock were exchanged, compared to its average volume of 4,131,403. The stock’s fifty day moving average is $78.92 and its 200 day moving average is $78.06. The stock has a market cap of $62.84 billion, a PE ratio of 32.51, a P/E/G ratio of 5.38 and a beta of 0.48. The company has a debt-to-equity ratio of 14.26, a quick ratio of 0.72 and a current ratio of 1.17. Colgate-Palmolive has a 12 month low of $72.20 and a 12 month high of $85.61.

Colgate-Palmolive (NYSE:CLGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.35 billion. Colgate-Palmolive had a net margin of 10.98% and a return on equity of 315.10%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.03 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, October 20th. Colgate-Palmolive’s payout ratio is currently 81.39%.

Colgate-Palmolive Company Profile

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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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