Canada Pension Plan Investment Board Increases Holdings in Colgate-Palmolive (CL)

Canada Pension Plan Investment Board raised its stake in shares of Colgate-Palmolive (NYSE:CL) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,619,820 shares of the company’s stock after buying an additional 54,300 shares during the period. Canada Pension Plan Investment Board owned about 0.19% of Colgate-Palmolive worth $108,447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board boosted its holdings in Colgate-Palmolive by 9.3% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 25,381 shares of the company’s stock worth $1,699,000 after buying an additional 2,170 shares during the period. Symons Capital Management Inc. bought a new position in Colgate-Palmolive in the 3rd quarter worth $5,876,000. FIL Ltd boosted its holdings in Colgate-Palmolive by 4.3% in the 3rd quarter. FIL Ltd now owns 3,919,367 shares of the company’s stock worth $262,402,000 after buying an additional 163,204 shares during the period. Ffcm LLC boosted its holdings in Colgate-Palmolive by 6.4% in the 3rd quarter. Ffcm LLC now owns 59,881 shares of the company’s stock worth $4,009,000 after buying an additional 3,588 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in Colgate-Palmolive by 6.9% in the 3rd quarter. Bahl & Gaynor Inc. now owns 31,906 shares of the company’s stock worth $2,136,000 after buying an additional 2,054 shares during the period. Institutional investors and hedge funds own 74.71% of the company’s stock.

In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 1,015 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the completion of the transaction, the chief financial officer now owns 36,193 shares of the company’s stock, valued at approximately $2,426,740.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Philip G. Shotts sold 462 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $30,977.10. Following the transaction, the vice president now directly owns 41,250 shares of the company’s stock, valued at approximately $2,765,812.50. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Several brokerages recently weighed in on CL. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Citigroup dropped their target price on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, July 31st. Barclays set a $64.00 target price on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Monday, July 30th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $64.00 target price on shares of Colgate-Palmolive in a report on Friday, July 27th. Finally, ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $68.06.

CL opened at $61.78 on Friday. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $77.91. The stock has a market cap of $53.70 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 3.04 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 64.85.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 26th. The company reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Friday, October 19th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.

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Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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