Colgate-Palmolive (NYSE:CL) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its stake in Colgate-Palmolive (NYSE:CL) by 38.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,541,975 shares of the company’s stock after purchasing an additional 710,500 shares during the period. Canada Pension Plan Investment Board owned about 0.31% of Colgate-Palmolive worth $246,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Benjamin F. Edwards & Company Inc. grew its stake in shares of Colgate-Palmolive by 6.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 104,427 shares of the company’s stock valued at $10,134,000 after buying an additional 6,554 shares in the last quarter. Ieq Capital LLC grew its position in Colgate-Palmolive by 22.6% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the company’s stock valued at $3,747,000 after acquiring an additional 7,130 shares in the last quarter. Brighton Jones LLC grew its position in Colgate-Palmolive by 49.4% in the 2nd quarter. Brighton Jones LLC now owns 10,308 shares of the company’s stock valued at $1,000,000 after acquiring an additional 3,410 shares in the last quarter. XTX Topco Ltd purchased a new stake in Colgate-Palmolive during the second quarter worth about $423,000. Finally, Elo Mutual Pension Insurance Co lifted its position in shares of Colgate-Palmolive by 12.9% during the second quarter. Elo Mutual Pension Insurance Co now owns 73,195 shares of the company’s stock worth $7,103,000 after purchasing an additional 8,371 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.2 %

CL opened at $101.98 on Friday. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. The stock has a market capitalization of $83.67 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. The business’s 50-day simple moving average is $102.61 and its 200-day simple moving average is $95.65.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Analyst Upgrades and Downgrades

CL has been the topic of several recent research reports. TD Cowen upped their target price on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Stifel Nicolaus upped their price objective on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Sanford C. Bernstein lifted their price objective on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.79.

Insiders Place Their Bets

In other news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 owns 11,755 shares in the company, valued at $1,220,874.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were 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 approximately $1,220,874.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,490 shares of company stock valued at $4,486,063. Insiders own 0.34% 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.