Colgate-Palmolive (NYSE:CL) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in Colgate-Palmolive (NYSE:CL) by 64.6% during the fourth quarter, Holdings Channel reports. The firm owned 83,572 shares of the company’s stock after purchasing an additional 32,809 shares during the period. Intech Investment Management LLC’s holdings in Colgate-Palmolive were worth $6,662,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CL. Vest Financial LLC raised its stake in shares of Colgate-Palmolive by 25.1% in the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock valued at $29,498,000 after acquiring an additional 74,337 shares during the period. Central Bank & Trust Co. increased its stake in Colgate-Palmolive by 22.1% during the 4th quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock worth $110,000 after buying an additional 250 shares during the period. Dynamic Advisor Solutions LLC increased its stake in Colgate-Palmolive by 9.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after buying an additional 910 shares during the period. Sarasin & Partners LLP increased its stake in Colgate-Palmolive by 1.2% during the 4th quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock worth $323,115,000 after buying an additional 49,980 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock worth $571,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CL shares. StockNews.com lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group started coverage on shares of Colgate-Palmolive in a report on Friday, March 1st. They set a “buy” rating and a $93.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Bank of America raised their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Stifel Nicolaus lifted their price target on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $92.35.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred 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 directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred 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 directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded down $0.43 during midday trading on Friday, reaching $93.30. The company’s stock had a trading volume of 2,554,810 shares, compared to its average volume of 4,674,141. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The company has a 50 day moving average price of $90.38 and a 200 day moving average price of $84.43. Colgate-Palmolive has a one year low of $67.62 and a one year high of $95.59. The company has a market cap of $76.55 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 3.44 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is currently 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.