State Street Corp Has $8.64 Billion Stock Holdings in Colgate-Palmolive Company $CL

State Street Corp increased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 97.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 94,195,992 shares of the company’s stock after purchasing an additional 46,476,510 shares during the quarter. State Street Corp owned approximately 0.12% of Colgate-Palmolive worth $8,635,889,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CL. CBIZ Investment Advisory Services LLC grew its stake in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC lifted its position in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Colgate-Palmolive in the second quarter worth approximately $32,000. Park Place Capital Corp boosted its holdings in shares of Colgate-Palmolive by 55.5% during the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock worth $33,000 after purchasing an additional 127 shares during the period. Finally, Gould Capital LLC boosted its holdings in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 175,191 shares of company stock valued at $16,110,903 over the last three months. 0.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CL shares. Citigroup upped their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group restated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Barclays increased their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.94.

Colgate-Palmolive Stock Up 1.2%

CL traded up $1.00 during midday trading on Tuesday, hitting $87.26. 1,211,591 shares of the company’s stock traded hands, compared to its average volume of 5,727,583. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The company has a market cap of $69.56 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 4.08 and a beta of 0.33. The stock’s fifty day simple moving average is $90.65 and its 200-day simple moving average is $89.13. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Colgate-Palmolive Profile

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.