Dai ichi Life Insurance Company Ltd Grows Stock Position in Colgate-Palmolive (NYSE:CL)

Dai ichi Life Insurance Company Ltd boosted its holdings in Colgate-Palmolive (NYSE:CL) by 25.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 250,525 shares of the company’s stock after acquiring an additional 50,821 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Colgate-Palmolive were worth $24,311,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Main Street Research LLC lifted its holdings in Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after buying an additional 100 shares in the last quarter. Advisor OS LLC raised its position in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after purchasing an additional 101 shares in the last quarter. BLB&B Advisors LLC boosted its stake in shares of Colgate-Palmolive by 2.5% during the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after buying an additional 104 shares during the last quarter. ZWJ Investment Counsel Inc. grew its position in shares of Colgate-Palmolive by 3.1% during the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after buying an additional 109 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Colgate-Palmolive by 9.5% in the second quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after buying an additional 110 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL opened at $105.72 on Friday. The company has a 50-day moving average of $102.11 and a two-hundred day moving average of $95.17. The stock has a market cap of $86.38 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 3.72 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.89%. Colgate-Palmolive’s payout ratio is 63.29%.

Analyst Upgrades and Downgrades

CL has been the topic of several research analyst reports. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Bank of America increased their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Barclays raised their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Citigroup upped their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $102.63.

Insider Buying and Selling

In related news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,490 shares of company stock valued at $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.