Saudi Central Bank Purchases 25,088 Shares of Colgate-Palmolive Company $CL

Saudi Central Bank boosted its position in Colgate-Palmolive Company (NYSE:CL) by 88.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 53,353 shares of the company’s stock after acquiring an additional 25,088 shares during the period. Saudi Central Bank’s holdings in Colgate-Palmolive were worth $4,891,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Angeles Wealth Management LLC boosted its holdings in Colgate-Palmolive by 2.3% in the 2nd quarter. Angeles Wealth Management LLC now owns 28,417 shares of the company’s stock worth $2,605,000 after buying an additional 635 shares during the period. Compass Financial Management LLC bought a new position in shares of Colgate-Palmolive in the second quarter worth $83,000. NBH Bank purchased a new position in shares of Colgate-Palmolive in the second quarter valued at $213,000. Old Mission Investment Co LLC purchased a new stake in Colgate-Palmolive during the 2nd quarter worth about $233,000. Finally, Montgomery Financial Services LLC purchased a new position in Colgate-Palmolive during the 2nd quarter valued at about $36,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.0%

NYSE CL opened at $88.80 on Monday. The stock has a market cap of $70.79 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 4.14 and a beta of 0.33. The stock has a 50 day simple moving average of $91.88 and a two-hundred day simple moving average of $89.82. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts forecast that Colgate-Palmolive Company will post 3.87 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. Stockholders of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. Citigroup lifted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $104.00 price target on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $99.00.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director John Cahill sold 4,170 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 175,191 shares of company stock worth $16,110,903 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

About Colgate-Palmolive

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.