Wallace Capital Management Inc. Acquires 150 Shares of Colgate-Palmolive (NYSE:CL)

Wallace Capital Management Inc. grew its holdings in Colgate-Palmolive (NYSE:CL) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,290 shares of the company’s stock after purchasing an additional 150 shares during the period. Wallace Capital Management Inc.’s holdings in Colgate-Palmolive were worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Colgate-Palmolive by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock valued at $6,368,378,000 after purchasing an additional 416,853 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after acquiring an additional 8,933,912 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after purchasing an additional 2,593,313 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd boosted its position in Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after buying an additional 278,150 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CL. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Barclays increased their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Hsbc Global Res downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Evercore ISI increased their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.74.

Colgate-Palmolive Trading Up 0.6 %

Shares of CL stock opened at $103.66 on Monday. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $109.30. 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 50 day moving average of $103.25 and a 200-day moving average of $96.42. The firm has a market cap of $85.05 billion, a P/E ratio of 32.80, a PEG ratio of 3.62 and a beta of 0.40.

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

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insiders Place Their Bets

In related news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the completion of the transaction, the insider now owns 5,146 shares of the company’s stock, valued at $529,729.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction 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 transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 in the last quarter. 0.34% of the stock is owned by company insiders.

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.