OMERS ADMINISTRATION Corp Increases Stock Position in Colgate-Palmolive Company $CL

OMERS ADMINISTRATION Corp grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 38.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,779 shares of the company’s stock after buying an additional 21,981 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Colgate-Palmolive were worth $7,314,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its holdings in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the period. TD Capital Management LLC increased its stake in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management increased its stake in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CL. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Finally, Barclays upped their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $92.46 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company has a 50 day moving average price of $91.93 and a 200-day moving average price of $90.12. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm has a market capitalization of $73.71 billion, a PE ratio of 36.69, a P/E/G ratio of 4.26 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Insider Activity

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.43% of the company’s stock.

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.