Illinois Municipal Retirement Fund Acquires 75,365 Shares of Colgate-Palmolive Company $CL

Illinois Municipal Retirement Fund boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 32.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 304,117 shares of the company’s stock after purchasing an additional 75,365 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Colgate-Palmolive were worth $25,947,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after buying an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Colgate-Palmolive in the second quarter worth $567,483,000. Envestnet Asset Management Inc. raised its holdings in Colgate-Palmolive by 266.5% in the second quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after acquiring an additional 3,014,860 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Colgate-Palmolive by 151.4% in the third quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company’s stock valued at $364,894,000 after acquiring an additional 2,575,530 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL opened at $97.95 on Wednesday. The stock has a market capitalization of $77.86 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 4.43 and a beta of 0.31. The business’s fifty day moving average price is $90.42 and its 200 day moving average price is $90.10. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.63. Colgate-Palmolive Company has a 12-month low of $75.96 and a 12-month high of $101.18.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts forecast that Colgate-Palmolive Company will post 3.92 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s payout ratio is 83.14%.

Analyst Ratings Changes

A number of research analysts have commented on CL shares. Bank of America increased their price objective on shares of Colgate-Palmolive from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Piper Sandler cut their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, September 21st. Barclays increased their price target on shares of Colgate-Palmolive from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 3rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.22.

Insider Activity

In other news, insider John Hazlin sold 23,376 shares of Colgate-Palmolive stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $99.15, for a total value of $2,317,730.40. Following the completion of the transaction, the insider directly owned 27,021 shares of the company’s stock, valued at approximately $2,679,132.15. The trade was a 46.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 19,938 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $98.74, for a total transaction of $1,968,678.12. Following the sale, the chief operating officer directly owned 9,111 shares of the company’s stock, valued at approximately $899,620.14. This represents a 68.64% decrease in their position. 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. In the last three months, insiders sold 73,314 shares of company stock valued at $7,212,109. Company insiders own 0.43% of the company’s stock.

Colgate-Palmolive Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.