ING Groep NV Acquires New Holdings in Colgate-Palmolive Company $CL

ING Groep NV bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the third quarter, Holdings Channel reports. The fund bought 177,633 shares of the company’s stock, valued at approximately $14,200,000.

Several other large investors have also recently bought and sold shares of the company. RFG Advisory LLC increased its holdings in shares of Colgate-Palmolive by 1.4% in the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock worth $839,000 after purchasing an additional 123 shares during the period. Tiemann Investment Advisors LLC grew its position in Colgate-Palmolive by 2.1% during the second quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock worth $553,000 after buying an additional 125 shares in the last quarter. Westside Investment Management Inc. grew its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. S.A. Mason LLC increased its stake in Colgate-Palmolive by 3.9% in the 3rd quarter. S.A. Mason LLC now owns 3,499 shares of the company’s stock worth $280,000 after acquiring an additional 130 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA raised its holdings in shares of Colgate-Palmolive by 0.8% in the 3rd quarter. Security National Bank of Sioux City Iowa IA now owns 16,241 shares of the company’s stock valued at $1,298,000 after acquiring an additional 130 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the transaction, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the transaction, the insider directly owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CL has been the subject of several recent analyst reports. Bank of America boosted their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. UBS Group increased their price target on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Evercore raised their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.47.

Colgate-Palmolive Price Performance

CL stock opened at $95.36 on Thursday. The firm has a market cap of $76.87 billion, a P/E ratio of 36.40, a P/E/G ratio of 4.24 and a beta of 0.29. The firm’s fifty day moving average is $83.06 and its 200 day moving average is $81.73. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.27 and a current ratio of 0.42.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

Colgate-Palmolive 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.