Dimensional Fund Advisors LP Boosts Stake in Colgate-Palmolive (CL)
Dimensional Fund Advisors LP grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,669,562 shares of the company’s stock after purchasing an additional 2,111 shares during the period. Dimensional Fund Advisors LP owned approximately 0.19% of Colgate-Palmolive worth $108,207,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Rainier Group Investment Advisory LLC acquired a new position in shares of Colgate-Palmolive in the first quarter worth about $107,000. Quadrant Capital Group LLC boosted its holdings in shares of Colgate-Palmolive by 142.4% in the first quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock worth $108,000 after buying an additional 941 shares during the period. Centerpoint Advisors LLC acquired a new position in shares of Colgate-Palmolive in the first quarter worth about $112,000. Kaizen Advisory LLC boosted its holdings in shares of Colgate-Palmolive by 134.8% in the second quarter. Kaizen Advisory LLC now owns 1,979 shares of the company’s stock worth $128,000 after buying an additional 1,136 shares during the period. Finally, Private Capital Group LLC boosted its holdings in shares of Colgate-Palmolive by 173.6% in the first quarter. Private Capital Group LLC now owns 2,353 shares of the company’s stock worth $169,000 after buying an additional 1,493 shares during the period. Institutional investors own 74.74% of the company’s stock.
CL has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 21st. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Stifel Nicolaus cut their price objective on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, July 23rd. Citigroup cut their price objective on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 31st. Finally, Barclays set a $64.00 price objective on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $72.14.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. Colgate-Palmolive’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. sell-side analysts anticipate that Colgate-Palmolive will post 3.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, July 17th. This represents a $1.68 annualized dividend and a dividend yield of 2.51%. Colgate-Palmolive’s payout ratio is 58.54%.
Colgate-Palmolive announced that its Board of Directors has initiated a stock repurchase program on Monday, June 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, insider Daniel B. Marsili sold 19,500 shares of the firm’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $65.40, for a total value of $1,275,300.00. Following the sale, the insider now owns 78,065 shares in the company, valued at $5,105,451. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mukul Deoras sold 11,334 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $65.10, for a total transaction of $737,843.40. Following the completion of the sale, the insider now owns 32,625 shares in the company, valued at approximately $2,123,887.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 433,302 shares of company stock worth $28,518,498. 1.02% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
Further Reading: Leveraged Buyout (LBO) Explained
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