Clearbridge Investments LLC Grows Stock Holdings in Colgate-Palmolive (NYSE:CL)

Clearbridge Investments LLC increased its position in shares of Colgate-Palmolive (NYSE:CL) by 559.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 760,251 shares of the company’s stock after buying an additional 645,000 shares during the quarter. Clearbridge Investments LLC owned about 0.09% of Colgate-Palmolive worth $57,133,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Colgate-Palmolive by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,444,508 shares of the company’s stock valued at $185,376,000 after purchasing an additional 94,837 shares during the last quarter. Covestor Ltd lifted its position in Colgate-Palmolive by 71.9% in the first quarter. Covestor Ltd now owns 2,451 shares of the company’s stock valued at $186,000 after acquiring an additional 1,025 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Colgate-Palmolive by 8.5% in the first quarter. Mackenzie Financial Corp now owns 1,882,813 shares of the company’s stock valued at $142,774,000 after buying an additional 146,936 shares during the last quarter. First Western Trust Bank purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at about $569,000. Finally, Wsfs Capital Management LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at about $288,000. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CL shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of Colgate-Palmolive in a research note on Monday, July 31st. Barclays increased their price target on shares of Colgate-Palmolive from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Colgate-Palmolive from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.33.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $73.27 on Monday. Colgate-Palmolive has a 52-week low of $67.84 and a 52-week high of $82.09. The firm has a fifty day moving average of $75.75 and a 200-day moving average of $75.89. The firm has a market capitalization of $60.57 billion, a P/E ratio of 40.71, a PEG ratio of 3.12 and a beta of 0.50. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 28.43.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Colgate-Palmolive had a net margin of 8.02% and a return on equity of 386.76%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, analysts predict that Colgate-Palmolive will post 3.17 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 21st were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, July 20th. Colgate-Palmolive’s payout ratio is currently 106.67%.

Insider Activity at Colgate-Palmolive

In related news, insider John W. Kooyman sold 21,677 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $77.69, for a total transaction of $1,684,086.13. Following the completion of the sale, the insider now directly owns 6,384 shares of the company’s stock, valued at approximately $495,972.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John W. Kooyman sold 21,677 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $77.69, for a total transaction of $1,684,086.13. Following the completion of the sale, the insider now directly owns 6,384 shares of the company’s stock, valued at approximately $495,972.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory Malcolm sold 10,493 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $73.90, for a total transaction of $775,432.70. Following the sale, the vice president now directly owns 7,852 shares of the company’s stock, valued at $580,262.80. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.