Groupe la Francaise Buys 66,392 Shares of Colgate-Palmolive Company $CL

Groupe la Francaise boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 47.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,115 shares of the company’s stock after buying an additional 66,392 shares during the quarter. Groupe la Francaise’s holdings in Colgate-Palmolive were worth $18,750,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Colgate-Palmolive in the second quarter valued at approximately $111,110,000. First Eagle Investment Management LLC raised its position in Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after purchasing an additional 88,917 shares in the last quarter. Vancity Investment Management Ltd raised its position in Colgate-Palmolive by 15.1% during the 2nd quarter. Vancity Investment Management Ltd now owns 3,047 shares of the company’s stock valued at $279,000 after purchasing an additional 400 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Colgate-Palmolive by 8,327.8% in the 2nd quarter. California State Teachers Retirement System now owns 107,033,741 shares of the company’s stock worth $9,812,853,000 after buying an additional 105,763,733 shares during the period. Finally, Tanager Wealth Management LLP bought a new position in shares of Colgate-Palmolive during the 2nd quarter worth $212,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CL shares. Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Citigroup boosted their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Finally, Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $88.80 on Monday. The stock’s 50-day moving average is $91.88 and its 200 day moving average is $89.82. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year 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 company has a market cap of $70.79 billion, a P/E ratio of 35.24, a PEG ratio of 4.14 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates 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 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 was up 4.9% on a year-over-year basis. Research analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s payout ratio is 84.13%.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, 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 Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 175,191 shares of company stock valued at $16,110,903 over the last 90 days. Insiders own 0.43% of the company’s stock.

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.