Daiichi Life Insurance Co. Ltd. Cuts Stock Position in Colgate-Palmolive Company $CL

Daiichi Life Insurance Co. Ltd. decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,770 shares of the company’s stock after selling 8,852 shares during the quarter. Daiichi Life Insurance Co. Ltd.’s holdings in Colgate-Palmolive were worth $16,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CL. Vanguard Group Inc. raised its position in Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after purchasing an additional 1,026,985 shares during the period. Geode Capital Management LLC boosted its position in shares of Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after buying an additional 304,426 shares during the period. Morgan Stanley grew its stake in shares of Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after buying an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after buying an additional 1,010,872 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $861,670,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CL has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Barclays boosted their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. UBS Group raised their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Citigroup lifted their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $99.00.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the business’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 directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $91.02 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The business has a 50 day moving average price of $91.89 and a two-hundred day moving average price of $90.14. The firm has a market cap of $72.56 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 4.26 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. Sell-side analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s payout ratio is 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.