Principal Financial Group Inc. Raises Stake in Colgate-Palmolive (CL)
Principal Financial Group Inc. lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 37.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,525,829 shares of the company’s stock after purchasing an additional 682,101 shares during the quarter. Principal Financial Group Inc. owned about 0.29% of Colgate-Palmolive worth $184,007,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Colgate-Palmolive by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock worth $1,499,000 after acquiring an additional 1,566 shares during the period. Israel Discount Bank of New York purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $1,349,000. Personal Capital Advisors Corp boosted its holdings in Colgate-Palmolive by 5.8% in the 2nd quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock worth $29,209,000 after acquiring an additional 21,456 shares during the period. Shelton Capital Management boosted its holdings in Colgate-Palmolive by 37.2% in the 1st quarter. Shelton Capital Management now owns 41,487 shares of the company’s stock worth $3,036,000 after acquiring an additional 11,242 shares during the period. Finally, Fiduciary Trust Co. boosted its holdings in Colgate-Palmolive by 1.6% in the 2nd quarter. Fiduciary Trust Co. now owns 170,818 shares of the company’s stock worth $12,663,000 after acquiring an additional 2,758 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.
Colgate-Palmolive (NYSE CL) opened at $75.37 on Thursday. The company has a market capitalization of $65,989.61, a P/E ratio of 29.10, a PEG ratio of 3.44 and a beta of 0.81. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.27.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. sell-side analysts anticipate that Colgate-Palmolive will post 2.88 earnings per share for the current year.
A number of equities analysts have weighed in on CL shares. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Monday, October 23rd. Morgan Stanley upgraded Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $84.00 in a report on Monday, September 25th. Deutsche Bank started coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 price target for the company. KeyCorp restated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Finally, Stifel Nicolaus set a $73.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a report on Sunday, October 29th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $76.33.
In other news, insider Victoria L. Dolan sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total transaction of $660,690.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the transaction, the director now owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,048 shares of company stock valued at $13,168,995. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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