State of Michigan Retirement System Acquires 200 Shares of Colgate-Palmolive (NYSE:CL)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $731,843,000. Price T Rowe Associates Inc. MD raised its stake in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after purchasing an additional 4,625,472 shares in the last quarter. Magellan Asset Management Ltd boosted its holdings in Colgate-Palmolive by 4,162.6% in the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after purchasing an additional 1,968,988 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $130,622,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Colgate-Palmolive by 461.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,036,215 shares of the company’s stock worth $93,311,000 after purchasing an additional 851,671 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $96.12 on Wednesday. The stock has a market cap of $78.86 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 3.57 and a beta of 0.39. The company’s fifty day moving average is $94.02 and its 200 day moving average is $87.76. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $99.08.

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

Colgate-Palmolive Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore ISI increased their price target on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Royal Bank of Canada increased their target price on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Bank of America boosted their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Citigroup increased their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company boosted their target price on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.83.

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.