Standard Life Aberdeen plc increased its stake in Colgate-Palmolive (NYSE:CL) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 329,024 shares of the company’s stock after buying an additional 46,989 shares during the period. Standard Life Aberdeen plc’s holdings in Colgate-Palmolive were worth $21,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Drexel Morgan & Co. lifted its position in Colgate-Palmolive by 7.9% in the 2nd quarter. Drexel Morgan & Co. now owns 24,958 shares of the company’s stock valued at $1,618,000 after acquiring an additional 1,819 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in Colgate-Palmolive in the 2nd quarter valued at approximately $173,852,000. Cadence Capital Management LLC lifted its position in Colgate-Palmolive by 16.1% in the 2nd quarter. Cadence Capital Management LLC now owns 137,765 shares of the company’s stock valued at $8,929,000 after acquiring an additional 19,142 shares in the last quarter. Pinebridge Investments L.P. lifted its position in Colgate-Palmolive by 11,819.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 142,199 shares of the company’s stock valued at $9,216,000 after acquiring an additional 141,006 shares in the last quarter. Finally, Sun Life Financial INC lifted its position in Colgate-Palmolive by 1,217.4% in the 2nd quarter. Sun Life Financial INC now owns 11,277 shares of the company’s stock valued at $731,000 after acquiring an additional 10,421 shares in the last quarter. Institutional investors own 74.74% of the company’s stock.

In related news, insider Daniel B. Marsili sold 19,500 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $63.25, for a total value of $1,233,375.00. Following the transaction, the insider now directly owns 78,065 shares of the company’s stock, valued at approximately $4,937,611.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Justin Skala sold 90,069 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $66.36, for a total value of $5,976,978.84. Following the completion of the transaction, the vice president now directly owns 65,061 shares in the company, valued at $4,317,447.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 433,302 shares of company stock worth $28,518,498. 1.02% of the stock is owned by insiders.

Several research firms recently issued reports on CL. Morgan Stanley lowered their price objective on Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 21st. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Stifel Nicolaus lowered their price target on Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, July 23rd. Citigroup lowered their price target on Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Finally, Barclays set a $64.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.14.

NYSE CL opened at $66.24 on Friday. The firm has a market cap of $57.95 billion, a PE ratio of 23.08, a PEG ratio of 2.99 and a beta of 0.75. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. Colgate-Palmolive has a 1-year low of $61.28 and a 1-year high of $77.91.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 27th. The company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the firm earned $0.72 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. analysts forecast that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Monday, June 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, July 18th were issued a $0.42 dividend. The ex-dividend date was Tuesday, July 17th. This represents a $1.68 dividend on an annualized basis and a yield of 2.54%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

See Also: Short Selling

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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