State of Wisconsin Investment Board boosted its stake in Colgate-Palmolive Company (NYSE:CL) by 42.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 772,063 shares of the company’s stock after buying an additional 230,564 shares during the period. State of Wisconsin Investment Board’s holdings in Colgate-Palmolive were worth $56,507,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of CL. Advantage Investment Management LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $104,000. Security Asset Management bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $131,000. SRS Capital Advisors Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $132,000. North Star Investment Management Corp. increased its position in shares of Colgate-Palmolive by 3.9% in the first quarter. North Star Investment Management Corp. now owns 1,797 shares of the company’s stock valued at $132,000 after buying an additional 67 shares during the period. Finally, Blue Chip Partners Inc. increased its position in shares of Colgate-Palmolive by 0.4% in the first quarter. Blue Chip Partners Inc. now owns 1,805 shares of the company’s stock valued at $132,000 after buying an additional 8 shares during the period. 73.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at 72.52 on Wednesday. Colgate-Palmolive Company has a 12 month low of $63.43 and a 12 month high of $77.27. The company has a 50 day moving average of $75.25 and a 200-day moving average of $71.52. The firm has a market capitalization of $64.06 billion, a P/E ratio of 26.17 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 28th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Colgate-Palmolive had a return on equity of 3,725.55% and a net margin of 16.31%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. Analysts predict that Colgate-Palmolive Company will post $2.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is currently 57.76%.
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Several research analysts recently issued reports on CL shares. Bank of America Corporation upped their price target on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC started coverage on shares of Colgate-Palmolive in a research report on Tuesday, April 18th. They set a “hold” rating and a $78.00 price target on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research report on Thursday, March 23rd. Finally, BidaskClub downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $75.69.
In related news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total value of $290,043.11. Following the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at $4,012,174.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $71.53, for a total value of $1,001,420.00. Following the completion of the transaction, the senior vice president now directly owns 102,838 shares in the company, valued at $7,356,002.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,833 shares of company stock worth $1,866,823. 1.02% of the stock is owned by insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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