Texas Permanent School Fund Corp Sells 33,897 Shares of Colgate-Palmolive (NYSE:CL)

Texas Permanent School Fund Corp cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 19.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 136,084 shares of the company’s stock after selling 33,897 shares during the period. Texas Permanent School Fund Corp’s holdings in Colgate-Palmolive were worth $13,206,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CL. Union Savings Bank lifted its stake in Colgate-Palmolive by 76.6% during the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive during the 2nd quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC bought a new position in Colgate-Palmolive during the 4th quarter valued at $32,000. PSI Advisors LLC raised its stake in shares of Colgate-Palmolive by 4,971.4% during the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after purchasing an additional 348 shares during the period. Finally, Core Wealth Advisors Inc. raised its stake in shares of Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after purchasing an additional 146 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CL shares. Barclays lifted their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Evercore ISI lifted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Sanford C. Bernstein lifted their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their target price on Colgate-Palmolive from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.63.

Insider Activity

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 stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,490 shares of company stock valued at $4,486,063. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $107.11 on Tuesday. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $109.30. The company has a market capitalization of $87.52 billion, a P/E ratio of 33.90, a PEG ratio of 3.78 and a beta of 0.40. The stock has a 50 day moving average price of $101.30 and a two-hundred day moving average price of $94.73.

Colgate-Palmolive (NYSE:CL) last posted its 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 return on equity of 470.19% and a net margin of 14.21%. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.87%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

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.