Panagora Asset Management Inc. grew its position in Colgate-Palmolive Company (NYSE:CL – Free Report) by 51.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,831 shares of the company’s stock after buying an additional 114,789 shares during the period. Panagora Asset Management Inc.’s holdings in Colgate-Palmolive were worth $26,616,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 valued at $6,633,570,000 after buying an additional 1,026,985 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $1,754,657,000 after buying an additional 304,426 shares during the period. Morgan Stanley grew its stake 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 valued at $1,520,836,000 after buying an additional 323,367 shares during the period. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $861,670,000. Finally, Deutsche Bank AG grew its stake 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 valued at $857,040,000 after buying an additional 2,746,920 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.
Colgate-Palmolive Price Performance
Shares of CL opened at $90.59 on Tuesday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The firm’s fifty day simple moving average is $86.96 and its 200-day simple moving average is $86.38. The firm has a market capitalization of $72.49 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.72 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on CL shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a research report on Thursday. They set a “market perform” rating and a $96.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $95.88.
View Our Latest Research Report on CL
Colgate-Palmolive Company 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.
See Also
- Five stocks we like better than Colgate-Palmolive
- These 5 Companies Just Made a Massive Bet on Themselves
- 5 Stocks Built to Thrive in a Higher-for-Longer Economy
- RH’s Strong Q1 Still Leaves Investors With One Big Question
- Iran Ceasefire or Not, These 3 Companies Could Win
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL – Free Report).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.
