USS Investment Management Ltd increased its holdings in Colgate-Palmolive Company (NYSE:CL – Free Report) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,146,622 shares of the company’s stock after acquiring an additional 453,470 shares during the period. Colgate-Palmolive comprises 0.8% of USS Investment Management Ltd’s investment portfolio, making the stock its 24th biggest holding. USS Investment Management Ltd’s holdings in Colgate-Palmolive were worth $169,637,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Colgate-Palmolive by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after acquiring an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after acquiring an additional 304,426 shares during the last quarter. Morgan Stanley raised its holdings in shares of Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after acquiring an additional 323,367 shares during the last quarter. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $861,670,000. Finally, Deutsche Bank AG raised its holdings in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.
Wall Street Analyst Weigh In
CL has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Bank of America lowered their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.
Colgate-Palmolive Trading Down 0.1%
NYSE:CL opened at $89.40 on Monday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The firm has a market cap of $71.54 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 4.72 and a beta of 0.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm has a 50-day moving average price of $86.85 and a two-hundred day moving average price of $86.30.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, equities analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.
Colgate-Palmolive Profile
Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.
The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.
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