Commonwealth Equity Services LLC Increases Stock Position in Colgate-Palmolive (NYSE:CL)

Commonwealth Equity Services LLC grew its stake in Colgate-Palmolive (NYSE:CL) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,122 shares of the company’s stock after buying an additional 5,194 shares during the period. Commonwealth Equity Services LLC’s holdings in Colgate-Palmolive were worth $24,585,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Colgate-Palmolive by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,444,508 shares of the company’s stock worth $185,376,000 after purchasing an additional 94,837 shares during the period. Covestor Ltd lifted its stake in shares of Colgate-Palmolive by 71.9% in the 1st quarter. Covestor Ltd now owns 2,451 shares of the company’s stock valued at $186,000 after acquiring an additional 1,025 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Colgate-Palmolive by 8.5% during the 1st quarter. Mackenzie Financial Corp now owns 1,882,813 shares of the company’s stock valued at $142,774,000 after acquiring an additional 146,936 shares during the period. First Western Trust Bank purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $569,000. Finally, Wsfs Capital Management LLC bought a new stake in Colgate-Palmolive in the first quarter valued at approximately $288,000. Institutional investors own 78.36% of the company’s stock.

Colgate-Palmolive Stock Down 0.1 %

Shares of Colgate-Palmolive stock opened at $75.47 on Tuesday. The company has a 50-day simple moving average of $72.93 and a two-hundred day simple moving average of $75.15. The stock has a market capitalization of $62.14 billion, a PE ratio of 39.31, a price-to-earnings-growth ratio of 3.35 and a beta of 0.46. The company has a debt-to-equity ratio of 21.40, a quick ratio of 0.74 and a current ratio of 1.16. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $82.09.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Colgate-Palmolive had a net margin of 8.29% and a return on equity of 533.40%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 3.21 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $1.92 dividend on an annualized basis and a yield of 2.54%. Colgate-Palmolive’s dividend payout ratio is presently 100.00%.

Insiders Place Their Bets

In other news, insider John W. Kooyman sold 3,000 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $75.11, for a total transaction of $225,330.00. Following the sale, the insider now owns 5,347 shares in the company, valued at $401,613.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Noel R. Wallace sold 48,627 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.37, for a total transaction of $3,567,762.99. Following the sale, the chief executive officer now owns 246,969 shares of the company’s stock, valued at $18,120,115.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John W. Kooyman sold 3,000 shares of Colgate-Palmolive stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $75.11, for a total transaction of $225,330.00. Following the completion of the transaction, the insider now directly owns 5,347 shares of the company’s stock, valued at $401,613.17. The disclosure for this sale can be found here. Insiders sold 93,153 shares of company stock worth $6,851,466 in the last three months. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CL shares. Stifel Nicolaus raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and decreased their target price for the stock from $85.00 to $81.00 in a research note on Monday, October 16th. Sanford C. Bernstein lowered their price objective on shares of Colgate-Palmolive from $82.00 to $76.00 in a research note on Thursday, October 12th. Citigroup dropped their target price on shares of Colgate-Palmolive from $92.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, October 11th. HSBC initiated coverage on Colgate-Palmolive in a research report on Friday, September 22nd. They set a “buy” rating and a $84.00 price target for the company. Finally, Bank of America decreased their target price on Colgate-Palmolive from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.57.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.