Colgate-Palmolive Company $CL Shares Bought by Jacobs & Co. CA

Jacobs & Co. CA boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 955.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 50,815 shares of the company’s stock after buying an additional 46,000 shares during the quarter. Jacobs & Co. CA’s holdings in Colgate-Palmolive were worth $4,336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp increased its holdings in Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Colgate-Palmolive during the second quarter worth $567,483,000. Envestnet Asset Management Inc. grew its stake in shares of Colgate-Palmolive by 266.5% in the second quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after buying an additional 3,014,860 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $236,682,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $88.19 on Friday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The business has a 50 day simple moving average of $89.10 and a 200-day simple moving average of $88.77. The stock has a market capitalization of $70.31 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 4.11 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its earnings results 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 company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Wells Fargo & Company decreased their target price on Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.65.

Insider Buying and Selling

In related news, CEO Noel Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 175,191 shares of company stock valued at $16,110,903. Insiders own 0.43% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.