BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $14.54 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 59.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,787 shares of the company’s stock after purchasing an additional 56,103 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Colgate-Palmolive were worth $14,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Main Street Research LLC increased its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Advisor OS LLC lifted its stake in Colgate-Palmolive by 4.5% in the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after buying an additional 101 shares in the last quarter. BLB&B Advisors LLC lifted its stake in Colgate-Palmolive by 2.5% in the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after buying an additional 104 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its holdings in shares of Colgate-Palmolive by 3.1% in the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after buying an additional 109 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in shares of Colgate-Palmolive by 9.5% during the second quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction dated 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 transaction, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Performance

NYSE CL opened at $103.79 on Wednesday. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $109.30. The firm has a market capitalization of $85.15 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 3.72 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The firm’s 50 day simple moving average is $102.96 and its 200 day simple moving average is $96.10.

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is presently 63.29%.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent research reports. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Stifel Nicolaus raised their price objective on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, July 22nd. TD Cowen raised their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler started coverage on Colgate-Palmolive in a research report on Tuesday. They set an “overweight” rating and a $121.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.74.

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.