Colgate-Palmolive Company $CL Stock Position Lifted by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,539 shares of the company’s stock after purchasing an additional 31,076 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $32,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Westside Investment Management Inc. boosted its stake in Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank acquired a new position in Colgate-Palmolive during the first quarter worth about $29,000. Ransom Advisory Ltd bought a new stake in Colgate-Palmolive in the first quarter worth about $33,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $37,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $77.25 on Friday. The firm has a market capitalization of $62.44 billion, a P/E ratio of 21.70, a PEG ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The business has a fifty day moving average price of $79.84 and a 200-day moving average price of $85.88.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Analyst Upgrades and Downgrades

CL has been the subject of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley dropped their price target on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Barclays decreased their target price on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, UBS Group reduced their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.87.

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.