Colgate-Palmolive Company $CL Shares Acquired by Foster Group Inc.

Foster Group Inc. raised its stake in Colgate-Palmolive Company (NYSE:CL) by 152.1% during the third quarter, Holdings Channel reports. The fund owned 11,547 shares of the company’s stock after buying an additional 6,967 shares during the period. Foster Group Inc.’s holdings in Colgate-Palmolive were worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Capital Management LLC increased its stake in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $32,000. Park Place Capital Corp raised its holdings in shares of Colgate-Palmolive by 55.5% in the 2nd 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. Cherry Tree Wealth Management LLC lifted its stake in Colgate-Palmolive by 7,840.0% in the second quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 392 shares during the last quarter. Finally, Montgomery Financial Services LLC purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $36,000. 80.41% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Noel 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 sale, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 over the last ninety days. Company insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $89.97 on Wednesday. The stock has a market capitalization of $71.72 billion, a P/E ratio of 35.70, a PEG ratio of 4.30 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The firm’s 50 day moving average is $89.05 and its 200 day moving average is $88.87. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

Analyst Ratings Changes

CL has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective (up from $100.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Raymond James Financial upped their price target on Colgate-Palmolive from $100.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $89.00 price target (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Citigroup lifted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.11.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.