Colgate-Palmolive Company $CL Shares Purchased by BNP Paribas

BNP Paribas increased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 12.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,510 shares of the company’s stock after buying an additional 10,485 shares during the quarter. BNP Paribas’ holdings in Colgate-Palmolive were worth $7,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the second quarter worth about $960,390,000. Schroder Investment Management Group raised its position in shares of Colgate-Palmolive by 242.3% in the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after purchasing an additional 3,768,784 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Colgate-Palmolive by 3,052.2% in the 3rd quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock valued at $215,602,000 after purchasing an additional 2,611,485 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares in the last quarter. Finally, Amundi grew its position in Colgate-Palmolive by 41.6% during the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after purchasing an additional 1,850,412 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CL has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Bank of America lifted their price objective 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. UBS Group boosted their price objective on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Evercore lifted their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.75.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the sale, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 184,683 shares of company stock worth $17,486,693. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $88.85 on Friday. The company has a 50 day simple moving average of $90.11 and a two-hundred day simple moving average of $83.23. The stock has a market cap of $71.62 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 3.98 and a beta of 0.28. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33.

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

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is 79.39%.

Colgate-Palmolive Company 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.