Retirement Systems of Alabama Buys 268 Shares of Colgate-Palmolive (NYSE:CL)

Retirement Systems of Alabama raised its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 181,732 shares of the company’s stock after acquiring an additional 268 shares during the quarter. Retirement Systems of Alabama’s holdings in Colgate-Palmolive were worth $16,365,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CL. Union Savings Bank increased its stake in Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after acquiring an additional 134 shares during the period. Avion Wealth boosted its stake in shares of Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $32,000. PSI Advisors LLC increased its position in shares of Colgate-Palmolive by 4,971.4% during the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after purchasing an additional 348 shares in the last quarter. Finally, Core Wealth Advisors Inc. lifted its holdings in Colgate-Palmolive by 56.6% during the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock valued at $32,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. BNP Paribas began coverage on Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target for the company. Morgan Stanley boosted their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Bank of America increased their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Royal Bank of Canada lifted their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Colgate-Palmolive Trading Up 1.2 %

Shares of NYSE:CL traded up $1.16 during midday trading on Friday, hitting $97.05. The company had a trading volume of 2,844,728 shares, compared to its average volume of 4,470,330. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08. The firm has a fifty day simple moving average of $94.44 and a 200 day simple moving average of $88.01. The stock has a market cap of $79.62 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 3.53 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. On average, analysts predict that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other news, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Profile

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.