Gateway Investment Advisers LLC Raises Holdings in Colgate-Palmolive (NYSE:CL)

Gateway Investment Advisers LLC increased its position in Colgate-Palmolive (NYSE:CL) by 3.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,054 shares of the company’s stock after purchasing an additional 412 shares during the period. Gateway Investment Advisers LLC’s holdings in Colgate-Palmolive were worth $1,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Colgate-Palmolive in the 2nd quarter worth $25,000. Rise Advisors LLC bought a new stake in Colgate-Palmolive during the first quarter worth approximately $38,000. Continuum Advisory LLC increased its stake in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the last quarter. Voisard Asset Management Group Inc. bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $40,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $48,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $100.10 on Friday. The firm has a 50 day moving average of $103.56 and a 200 day moving average of $97.20. 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 company has a market capitalization of $82.13 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $68.54 and a 52 week high of $109.30.

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CL. Barclays increased their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. BNP Paribas began coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target on the stock. Evercore ISI raised their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Insiders Place Their Bets

In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,490 shares of company stock valued at $4,486,063. Insiders own 0.34% 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.