SG Trading Solutions LLC acquired a new position in Colgate-Palmolive Company (NYSE:CL – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 45,285 shares of the company’s stock, valued at approximately $3,578,000. Colgate-Palmolive accounts for about 0.8% of SG Trading Solutions LLC’s portfolio, making the stock its 20th largest position.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CL. Norges Bank bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $861,670,000. Northwestern Mutual Wealth Management Co. grew its holdings in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new position in Colgate-Palmolive during the fourth quarter valued at $236,682,000. Deutsche Bank AG increased its position in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Colgate-Palmolive by 47.4% in the fourth quarter. Franklin Resources Inc. now owns 6,044,168 shares of the company’s stock valued at $477,610,000 after buying an additional 1,942,946 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Stock Performance
NYSE:CL opened at $89.74 on Friday. The business’s fifty day moving average is $87.32 and its 200 day moving average is $86.58. The firm has a market cap of $71.81 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 4.78 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.
Colgate-Palmolive Dividend Announcement
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 given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on CL shares. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Bank of America reduced their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Barclays boosted their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Finally, TD Cowen restated a “hold” rating and set a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.
Read 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.
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