Colgate-Palmolive (NYSE:CL) Position Boosted by Abbrea Capital LLC

Abbrea Capital LLC increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,936 shares of the company’s stock after acquiring an additional 484 shares during the quarter. Abbrea Capital LLC’s holdings in Colgate-Palmolive were worth $3,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $731,843,000. Price T Rowe Associates Inc. MD increased its stake in shares of Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after acquiring an additional 8,933,912 shares during the period. Swedbank AB acquired a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $286,370,000. Acadian Asset Management LLC boosted its holdings in Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after buying an additional 2,955,442 shares in the last quarter. Finally, Magellan Asset Management Ltd boosted its holdings in Colgate-Palmolive by 4,162.6% during the fourth quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after buying an additional 1,968,988 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.2 %

Shares of NYSE:CL opened at $106.35 on Friday. The firm has a market capitalization of $87.25 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 3.78 and a beta of 0.40. The firm has a fifty day moving average of $101.93 and a two-hundred day moving average of $95.04. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $109.30.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.88%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the stock from $107.00 to $109.00 in a report on Monday. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 target price for the company. Sanford C. Bernstein raised their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $102.63.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,220,874.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s 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 in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is owned by corporate insiders.

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.