Pensionfund Sabic Acquires New Holdings in Colgate-Palmolive Company $CL

Pensionfund Sabic bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 16,900 shares of the company’s stock, valued at approximately $1,335,000.

Several other large investors also recently added to or reduced their stakes in CL. Norges Bank acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth $960,390,000. Invesco Ltd. lifted its stake in shares of Colgate-Palmolive by 13.1% in the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after purchasing an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Colgate-Palmolive by 46.7% in the third 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. Ameriprise Financial Inc. increased its position in Colgate-Palmolive by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after buying an additional 314,584 shares during the last quarter. Finally, Amundi increased its position in Colgate-Palmolive by 41.6% during the third quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after buying an additional 1,850,412 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Sally Massey sold 15,851 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the transaction, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This trade represents a 53.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 17,645 shares in the company, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 over the last ninety days. Company insiders own 0.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.8%

CL opened at $84.46 on Wednesday. The company has a market capitalization of $68.08 billion, a P/E ratio of 32.24, a P/E/G ratio of 3.81 and a beta of 0.28. 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 firm’s fifty day moving average price is $91.10 and its two-hundred day moving average price is $83.36. 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 announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is 79.39%.

Analyst Ratings Changes

Several analysts have recently issued reports on CL shares. Wells Fargo & Company upped their price target on Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Sunday, February 1st. Barclays boosted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. 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 report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

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.