Public Sector Pension Investment Board Purchases 360,104 Shares of Colgate-Palmolive (NYSE:CL)

Public Sector Pension Investment Board lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 1,533.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,586 shares of the company’s stock after purchasing an additional 360,104 shares during the period. Public Sector Pension Investment Board’s holdings in Colgate-Palmolive were worth $37,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Main Street Research LLC boosted its stake in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock valued at $673,000 after purchasing an additional 100 shares in the last quarter. Advisor OS LLC boosted its position in Colgate-Palmolive by 4.5% during 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 during the period. BLB&B Advisors LLC grew its stake in shares of 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 buying an additional 104 shares during the last quarter. ZWJ Investment Counsel Inc. increased 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 worth $349,000 after buying an additional 109 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Colgate-Palmolive by 9.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock valued at $124,000 after acquiring an additional 110 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction 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 sale, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

NYSE CL opened at $103.06 on Monday. 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 company has a market capitalization of $84.55 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 3.72 and a beta of 0.40. The stock has a 50-day moving average of $102.71 and a 200 day moving average of $95.89. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CL shares. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. UBS Group lifted their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Bank of America boosted their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, HSBC restated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.

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.