Korea Investment CORP Acquires 260,573 Shares of Colgate-Palmolive Company $CL

Korea Investment CORP boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 54.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 742,483 shares of the company’s stock after acquiring an additional 260,573 shares during the period. Korea Investment CORP owned 0.09% of Colgate-Palmolive worth $68,071,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive in the 4th quarter worth $25,000. CBIZ Investment Advisory Services LLC increased its holdings in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC increased its holdings in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management lifted its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in Colgate-Palmolive during the fourth quarter worth about $26,000. Institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

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

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $91.02 on Friday. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The company has a market capitalization of $72.56 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 4.19 and a beta of 0.33. The company’s 50 day moving average price is $91.89 and its two-hundred day moving average price is $90.14. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating 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 company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s payout ratio is currently 84.13%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. TD Cowen increased their target price on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

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.