One Way Holdings LLC Acquires New Holdings in Colgate-Palmolive Company $CL

One Way Holdings LLC acquired a new position in Colgate-Palmolive Company (NYSE:CL) during the third quarter, Holdings Channel reports. The institutional investor acquired 85,233 shares of the company’s stock, valued at approximately $7,272,000.

Other large investors have also modified their holdings of the company. State Street Corp lifted its holdings 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 worth $8,635,889,000 after acquiring an additional 46,476,510 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Colgate-Palmolive by 172.5% during the 1st 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 period. Bank of America Corp DE bought a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $567,483,000. Envestnet Asset Management Inc. boosted its stake in Colgate-Palmolive by 266.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock valued at $380,136,000 after buying an additional 3,014,860 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position 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 during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction 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. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing 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, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 175,191 shares of company stock worth $16,110,903 over the last quarter. Company insiders own 0.43% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $95.35 on Monday. The company has a 50 day moving average of $89.54 and a 200-day moving average of $89.65. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a quick ratio of 0.30, a current ratio of 0.46 and a debt-to-equity ratio of 13.82. The stock has a market capitalization of $76.01 billion, a P/E ratio of 37.39, a P/E/G ratio of 4.59 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Colgate-Palmolive’s revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.89 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is currently 84.13%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Bank of America boosted their price objective on Colgate-Palmolive from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday. Barclays raised their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $103.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Finally, UBS Group reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Colgate-Palmolive in a research note on Monday. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.17.

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 portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.