Plato Investment Management Ltd Purchases 1,311 Shares of Colgate-Palmolive (NYSE:CL)

Plato Investment Management Ltd lifted its position in Colgate-Palmolive (NYSE:CL) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,152 shares of the company’s stock after acquiring an additional 1,311 shares during the quarter. Plato Investment Management Ltd’s holdings in Colgate-Palmolive were worth $1,956,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wilkins Investment Counsel Inc. increased its position in Colgate-Palmolive by 1.0% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 108,324 shares of the company’s stock valued at $10,512,000 after purchasing an additional 1,084 shares during the period. J.W. Cole Advisors Inc. boosted its stake in shares of Colgate-Palmolive by 21.7% during the second quarter. J.W. Cole Advisors Inc. now owns 10,933 shares of the company’s stock valued at $1,061,000 after purchasing an additional 1,953 shares in the last quarter. Prosperity Consulting Group LLC boosted its stake in shares of Colgate-Palmolive by 8.3% during the second quarter. Prosperity Consulting Group LLC now owns 3,372 shares of the company’s stock valued at $327,000 after purchasing an additional 257 shares in the last quarter. Inspire Advisors LLC purchased a new position in Colgate-Palmolive during the second quarter valued at approximately $212,000. Finally, Envestnet Asset Management Inc. raised its stake in Colgate-Palmolive by 16.2% in the second quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company’s stock worth $44,585,000 after buying an additional 64,123 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $105.73 on Monday. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30. The business’s 50 day moving average price is $102.11 and its 200 day moving average price is $95.29. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The firm has a market cap of $86.75 billion, a P/E ratio of 33.46, a P/E/G ratio of 3.72 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, sell-side analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 over the last quarter. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

CL has been the topic of several recent research reports. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Bank of America lifted their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. TD Cowen increased their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. BNP Paribas started coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target on the stock. Finally, Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.63.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.