Employees Retirement System of Texas Purchases 254,622 Shares of Colgate-Palmolive Company $CL

Employees Retirement System of Texas raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 39.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 899,843 shares of the company’s stock after buying an additional 254,622 shares during the period. Employees Retirement System of Texas’ holdings in Colgate-Palmolive were worth $71,933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CL. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 155 shares during the last quarter. Copia Wealth Management purchased a new stake in Colgate-Palmolive in the third quarter worth $29,000. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive in the third quarter worth $30,000. MTM Investment Management LLC bought a new stake in shares of Colgate-Palmolive during the second quarter worth $39,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the second quarter valued at $44,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $985,363.15. This trade represents a 77.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stanley J. Sutula III sold 97,843 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the transaction, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. The trade was a 63.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 184,683 shares of company stock worth $17,486,693. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Down 1.9%

Shares of Colgate-Palmolive stock opened at $87.94 on Friday. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The stock has a market cap of $70.89 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 4.01 and a beta of 0.28. The firm’s 50-day moving average is $89.89 and its two-hundred day moving average is $83.20. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CL shares. Bank of America raised their price target on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research note on Tuesday, December 9th. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Jefferies Financial Group lifted their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Finally, Piper Sandler increased their price objective on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.75.

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.