Colgate-Palmolive (NYSE:CL) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System grew its position in Colgate-Palmolive (NYSE:CL) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,629 shares of the company’s stock after buying an additional 200 shares during the period. State of Michigan Retirement System’s holdings in Colgate-Palmolive were worth $20,318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Regal Investment Advisors LLC raised its holdings in shares of Colgate-Palmolive by 1.6% in the fourth quarter. Regal Investment Advisors LLC now owns 7,574 shares of the company’s stock worth $604,000 after acquiring an additional 121 shares during the last quarter. M&G Investment Management Ltd. lifted its holdings in Colgate-Palmolive by 0.3% in the 4th quarter. M&G Investment Management Ltd. now owns 49,269 shares of the company’s stock valued at $3,942,000 after purchasing an additional 125 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Colgate-Palmolive by 3.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,404 shares of the company’s stock worth $271,000 after purchasing an additional 127 shares during the last quarter. &PARTNERS raised its position in shares of Colgate-Palmolive by 0.7% in the fourth quarter. &PARTNERS now owns 17,643 shares of the company’s stock valued at $1,406,000 after buying an additional 129 shares during the last quarter. Finally, AMG National Trust Bank boosted its position in Colgate-Palmolive by 0.4% during the fourth quarter. AMG National Trust Bank now owns 30,232 shares of the company’s stock worth $2,410,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $96.12 on Wednesday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $99.08. The company has a market capitalization of $78.86 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.57 and a beta of 0.39. The business has a 50-day moving average of $94.02 and a 200-day moving average of $87.76.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the prior year, the business earned $0.73 EPS. Colgate-Palmolive’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.08%. Colgate-Palmolive’s payout ratio is 63.29%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CL. BNP Paribas initiated coverage on Colgate-Palmolive in a report on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target for the company. Stifel Nicolaus increased their target price on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Barclays raised their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.83.

Insider Transactions at Colgate-Palmolive

In related news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now owns 3,181 shares in the company, valued at $297,328.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the sale, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.