Itau Unibanco Holding S.A. Invests $617,000 in Colgate-Palmolive (NYSE:CL)

Itau Unibanco Holding S.A. bought a new stake in shares of Colgate-Palmolive (NYSE:CL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,358 shares of the company’s stock, valued at approximately $617,000.

Other institutional investors have also bought and sold shares of the company. Mitchell Sinkler & Starr PA increased its stake in Colgate-Palmolive by 92.6% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 45,899 shares of the company’s stock valued at $3,659,000 after buying an additional 22,073 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd increased its position in shares of Colgate-Palmolive by 57.1% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 383,819 shares of the company’s stock valued at $30,594,000 after acquiring an additional 139,429 shares during the last quarter. D L Carlson Investment Group Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $3,269,000. Diversify Advisory Services LLC bought a new stake in Colgate-Palmolive during the first quarter worth $911,000. Finally, TD Asset Management Inc boosted its position in Colgate-Palmolive by 2.4% in the first quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock worth $103,969,000 after purchasing an additional 26,987 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CL. Sanford C. Bernstein raised their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. Evercore ISI lifted 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. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. TD Cowen raised their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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 research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $102.79.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 5,146 shares of the company’s stock, valued at $529,729.24. The disclosure for this sale can be found here. In the last three months, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $103.06 on Friday. The stock has a market cap of $84.55 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 3.72 and a beta of 0.40. 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 business has a 50-day simple moving average of $102.71 and a 200 day simple moving average of $95.83. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 63.29%.

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.