Plato Investment Management Ltd Grows Stock Position in Colgate-Palmolive (NYSE:CL)

Plato Investment Management Ltd lifted its holdings in Colgate-Palmolive (NYSE:CL) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,152 shares of the company’s stock after purchasing an additional 1,311 shares during the period. Plato Investment Management Ltd’s holdings in Colgate-Palmolive were worth $1,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilkins Investment Counsel Inc. lifted its position in Colgate-Palmolive by 1.0% during the second quarter. Wilkins Investment Counsel Inc. now owns 108,324 shares of the company’s stock valued at $10,512,000 after purchasing an additional 1,084 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Colgate-Palmolive by 21.7% in the second quarter. J.W. Cole Advisors Inc. now owns 10,933 shares of the company’s stock worth $1,061,000 after buying an additional 1,953 shares during the period. Prosperity Consulting Group LLC lifted its position in shares of Colgate-Palmolive by 8.3% during the 2nd quarter. Prosperity Consulting Group LLC now owns 3,372 shares of the company’s stock valued at $327,000 after buying an additional 257 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $212,000. Finally, Envestnet Asset Management Inc. increased its holdings in Colgate-Palmolive by 16.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company’s stock worth $44,585,000 after acquiring an additional 64,123 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of a number of recent analyst reports. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Citigroup increased their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their price objective on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Evercore ISI lifted their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company 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 stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now owns 5,146 shares of the company’s stock, valued at $529,729.24. 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. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $105.73 on Monday. The firm has a fifty day simple moving average of $102.11 and a two-hundred day simple moving average of $95.29. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The stock has a market capitalization of $86.75 billion, a P/E ratio of 33.46, a PEG ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Colgate-Palmolive 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.