Colgate-Palmolive Company $CL Shares Purchased by Vestcor Inc

Vestcor Inc boosted its position in Colgate-Palmolive Company (NYSE:CL) by 2.6% in the 3rd quarter, Holdings Channel reports. The fund owned 296,010 shares of the company’s stock after purchasing an additional 7,542 shares during the period. Colgate-Palmolive makes up about 0.7% of Vestcor Inc’s investment portfolio, making the stock its 22nd biggest position. Vestcor Inc’s holdings in Colgate-Palmolive were worth $23,663,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Copia Wealth Management acquired a new stake in shares of Colgate-Palmolive during the third quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its position in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after buying an additional 155 shares during the period. Cloud Capital Management LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter worth about $30,000. MTM Investment Management LLC purchased a new stake in Colgate-Palmolive in the 2nd quarter valued at about $39,000. Finally, Louisbourg Investments Inc. increased its stake in shares of Colgate-Palmolive by 94.7% during the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock valued at $41,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $93.55 on Monday. The firm has a fifty day moving average of $88.98 and a 200-day moving average of $83.03. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The firm has a market capitalization of $75.41 billion, a P/E ratio of 35.71, a PEG ratio of 4.22 and a beta of 0.28.

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

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, January 21st. Colgate-Palmolive’s payout ratio is currently 79.39%.

Insider Buying and Selling

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the sale, the chief operating officer owned 10,415 shares in the company, valued at approximately $1,018,691.15. This trade represents a 59.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 184,683 shares of company stock worth $17,486,693 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada raised shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research report on Tuesday, December 9th. Evercore lifted their price target on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price objective on Colgate-Palmolive in a report on Friday, February 13th. Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Finally, Barclays lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

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.