Korea Investment CORP Buys 260,573 Shares of Colgate-Palmolive Company $CL

Korea Investment CORP grew its position in Colgate-Palmolive Company (NYSE:CL) by 54.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 742,483 shares of the company’s stock after buying an additional 260,573 shares during the quarter. Korea Investment CORP’s holdings in Colgate-Palmolive were worth $68,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas boosted its position in Colgate-Palmolive by 35.3% during the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after buying an additional 122,634 shares during the period. Flputnam Investment Management Co. increased its position in Colgate-Palmolive by 7.4% in the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after acquiring an additional 13,804 shares during the period. SEB Asset Management AB bought a new position in shares of Colgate-Palmolive during the first quarter valued at $91,149,000. Brandywine Financial Group raised its stake in shares of Colgate-Palmolive by 35,612.3% during the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after acquiring an additional 72,649 shares during the last quarter. Finally, Conning Inc. lifted its holdings in shares of Colgate-Palmolive by 10.2% during the fourth quarter. Conning Inc. now owns 426,753 shares of the company’s stock worth $33,722,000 after purchasing an additional 39,655 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 1.5%

Shares of Colgate-Palmolive stock opened at $91.02 on Friday. The stock’s 50-day moving average is $91.89 and its 200 day moving average is $90.14. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The firm has a market cap of $72.56 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 4.19 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred 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. The trade was a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CL. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Barclays upped their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. TD Cowen increased their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Company Profile

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.