IFM Investors Pty Ltd Grows Stock Position in Colgate-Palmolive (NYSE:CL)

IFM Investors Pty Ltd raised its position in Colgate-Palmolive (NYSE:CL) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,699 shares of the company’s stock after buying an additional 6,330 shares during the period. IFM Investors Pty Ltd’s holdings in Colgate-Palmolive were worth $17,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CL. Main Street Research LLC lifted its position in Colgate-Palmolive by 1.5% in the second quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after purchasing an additional 100 shares during the period. Advisor OS LLC raised its holdings in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after purchasing an additional 101 shares in the last quarter. BLB&B Advisors LLC lifted its stake in Colgate-Palmolive by 2.5% during the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after purchasing an additional 104 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its holdings in Colgate-Palmolive by 3.1% during the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after buying an additional 109 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in Colgate-Palmolive by 9.5% in the second quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after buying an additional 110 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.6 %

CL stock traded up $0.62 during midday trading on Thursday, hitting $99.60. 1,964,891 shares of the company’s stock were exchanged, compared to its average volume of 4,316,416. The stock’s fifty day moving average price is $103.31 and its 200-day moving average price is $97.84. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a one year low of $71.46 and a one year high of $109.30. The company has a market cap of $81.72 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same quarter last year, the company posted $0.77 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company cut shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 target price for the company. in a report on Monday, September 16th. TD Cowen boosted their target price on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. Sanford C. Bernstein lifted their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI boosted their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Insider Activity at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 over the last quarter. 0.34% of the stock is owned by corporate insiders.

About Colgate-Palmolive

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.