Colgate-Palmolive Company $CL Position Increased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its stake in Colgate-Palmolive Company (NYSE:CL) by 482.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 58,818 shares of the company’s stock after acquiring an additional 48,721 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Colgate-Palmolive were worth $5,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. HighPoint Advisor Group LLC boosted its stake in shares of Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after acquiring an additional 109 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Colgate-Palmolive by 2.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after purchasing an additional 113 shares during the period. Cooper Financial Group lifted its holdings in shares of Colgate-Palmolive by 4.0% during the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after purchasing an additional 114 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock valued at $1,225,000 after purchasing an additional 114 shares during the last quarter. Finally, Gould Capital LLC boosted its position in shares of Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CL shares. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. UBS Group lifted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Morgan Stanley restated an “overweight” rating and set a $104.00 price target on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Royal Bank Of Canada upped their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Price Performance

Shares of CL opened at $89.68 on Friday. The business’s 50-day moving average is $91.86 and its 200-day moving average is $90.13. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The company has a market capitalization of $71.49 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 4.25 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.43% of the company’s stock.

About Colgate-Palmolive

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.