Colgate-Palmolive (NYSE:CL) Shares Purchased by Pitcairn Co.

Pitcairn Co. increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,904 shares of the company’s stock after acquiring an additional 795 shares during the quarter. Pitcairn Co.’s holdings in Colgate-Palmolive were worth $712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $731,843,000. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after purchasing an additional 4,625,472 shares during the last quarter. Magellan Asset Management Ltd boosted its holdings in Colgate-Palmolive by 4,162.6% in the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after purchasing an additional 1,968,988 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Colgate-Palmolive in the 1st quarter valued at about $130,622,000. Finally, Acadian Asset Management LLC boosted its holdings in Colgate-Palmolive by 62.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,726,838 shares of the company’s stock valued at $245,516,000 after purchasing an additional 1,051,845 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

NYSE:CL traded down $0.11 during trading hours on Thursday, reaching $96.49. 4,465,390 shares of the company’s stock were exchanged, compared to its average volume of 4,379,401. The firm has a market capitalization of $79.16 billion, a price-to-earnings ratio of 30.56, a P/E/G ratio of 3.49 and a beta of 0.39. The company has a 50-day moving average of $95.68 and a 200 day moving average of $89.89. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $99.63.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. Colgate-Palmolive’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. Research analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the company from $103.00 to $95.00 in a report on Wednesday. Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Evercore ISI upped their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Finally, Barclays upped their target price on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $98.58.

Insider Buying and Selling

In other news, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.