Cigna Investments Inc. New lifted its holdings in Colgate-Palmolive (NYSE:CL) by 3.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 39,796 shares of the company’s stock after buying an additional 1,450 shares during the quarter. Cigna Investments Inc. New’s holdings in Colgate-Palmolive were worth $2,641,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CL. Advisory Alpha LLC acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $26,000. Peddock Capital Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $34,000. Pacifica Partners Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $36,000. West Bancorporation Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $38,000. Finally, Keebeck Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $39,000. 74.79% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. SunTrust Banks raised their price target on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, May 15th. Atlantic Securities raised shares of Colgate-Palmolive from a “neutral” rating to an “overweight” rating in a report on Monday, February 3rd. Citigroup raised their price target on shares of Colgate-Palmolive from $71.00 to $78.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI reaffirmed a “buy” rating and set a $80.00 price target on shares of Colgate-Palmolive in a report on Monday, January 27th. Finally, Royal Bank of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $69.00 to $91.00 in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $75.60.
In related news, Director Michael B. Polk sold 3,115 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $68.08, for a total value of $212,069.20. Following the sale, the director now directly owns 20,622 shares in the company, valued at approximately $1,403,945.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Philip G. Shotts sold 666 shares of Colgate-Palmolive stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $75.61, for a total transaction of $50,356.26. Following the completion of the sale, the vice president now owns 41,158 shares in the company, valued at $3,111,956.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,132 shares of company stock worth $5,774,879. Insiders own 0.78% of the company’s stock.
Shares of Colgate-Palmolive stock traded up $0.49 during trading hours on Friday, reaching $70.75. The company’s stock had a trading volume of 3,427,409 shares, compared to its average volume of 4,410,119. The company’s 50 day simple moving average is $69.93 and its 200 day simple moving average is $69.58. The company has a debt-to-equity ratio of 21.51, a quick ratio of 0.66 and a current ratio of 0.96. Colgate-Palmolive has a one year low of $58.49 and a one year high of $77.41. The stock has a market cap of $60.18 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 4.62 and a beta of 0.60.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. Colgate-Palmolive had a net margin of 15.86% and a return on equity of 942.99%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same period last year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 2.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a $0.44 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 62.19%.
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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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