California State Teachers Retirement System Purchases 105,763,733 Shares of Colgate-Palmolive Company $CL

California State Teachers Retirement System boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 8,327.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 107,033,741 shares of the company’s stock after purchasing an additional 105,763,733 shares during the period. California State Teachers Retirement System owned 0.13% of Colgate-Palmolive worth $9,812,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $861,670,000. Bank of New York Mellon Corp boosted its stake in shares of Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $567,483,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Colgate-Palmolive during the 4th quarter worth approximately $236,682,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CL shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday. Citigroup upped their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Piper Sandler increased their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Barclays upped their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Transactions at Colgate-Palmolive

In other news, Director John Cahill sold 4,170 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 175,191 shares of company stock valued at $16,110,903 in the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $88.37 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a fifty day moving average of $91.75 and a 200-day moving average of $89.72. The firm has a market capitalization of $70.45 billion, a P/E ratio of 35.07, a P/E/G ratio of 4.14 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.