State of Wisconsin Investment Board Grows Position in Colgate-Palmolive (NYSE:CL)

State of Wisconsin Investment Board lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 23.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 719,362 shares of the company’s stock after buying an additional 137,452 shares during the period. State of Wisconsin Investment Board’s holdings in Colgate-Palmolive were worth $56,707,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its position in Colgate-Palmolive by 2.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 385,731 shares of the company’s stock worth $30,407,000 after purchasing an additional 7,774 shares during the last quarter. Credit Agricole S A boosted its position in Colgate-Palmolive by 12.0% in the first quarter. Credit Agricole S A now owns 179,464 shares of the company’s stock worth $14,147,000 after purchasing an additional 19,180 shares during the last quarter. Candlestick Capital Management LP purchased a new position in Colgate-Palmolive in the first quarter worth about $29,561,000. QS Investors LLC boosted its position in Colgate-Palmolive by 7.4% in the first quarter. QS Investors LLC now owns 62,316 shares of the company’s stock worth $4,913,000 after purchasing an additional 4,272 shares during the last quarter. Finally, Northeast Investment Management boosted its position in Colgate-Palmolive by 2.1% in the first quarter. Northeast Investment Management now owns 61,997 shares of the company’s stock worth $4,887,000 after purchasing an additional 1,257 shares during the last quarter. 75.85% of the stock is currently owned by institutional investors.

In related news, insider John W. Kooyman sold 11,195 shares of the business’s stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $82.07, for a total transaction of $918,773.65. Following the completion of the transaction, the insider now owns 19,251 shares in the company, valued at approximately $1,579,929.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Patricia Verduin sold 46,566 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $80.89, for a total value of $3,766,723.74. Following the transaction, the chief technology officer now owns 100,680 shares of the company’s stock, valued at approximately $8,144,005.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,040 shares of company stock valued at $7,384,255. Company insiders own 0.32% of the company’s stock.

Several research analysts have recently commented on CL shares. Credit Suisse Group raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $95.00 in a research note on Wednesday, June 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, May 3rd. UBS Group started coverage on Colgate-Palmolive in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $95.00 price objective on the stock. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $85.00 price objective on the stock in a research note on Monday, May 3rd. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, June 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $85.62.

NYSE:CL opened at $82.18 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.64 and a debt-to-equity ratio of 11.42. Colgate-Palmolive has a 1 year low of $72.61 and a 1 year high of $86.41. The business has a 50 day moving average price of $82.85. The company has a market cap of $69.52 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 4.20 and a beta of 0.61.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, April 29th. The company reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Colgate-Palmolive had a return on equity of 298.80% and a net margin of 15.92%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. On average, equities research analysts expect that Colgate-Palmolive will post 3.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Wednesday, July 21st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.82%.

About Colgate-Palmolive

Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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