Liberty One Investment Management LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 33.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,358 shares of the company’s stock after buying an additional 17,062 shares during the period. Liberty One Investment Management LLC’s holdings in Colgate-Palmolive were worth $5,826,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in Colgate-Palmolive in the 4th quarter valued at $861,670,000. Bank of New York Mellon Corp increased its stake in Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 worth $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at $236,682,000. Finally, Deutsche Bank AG boosted its stake in shares of Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. Institutional investors own 80.41% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on CL. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price objective for the company. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Barclays boosted their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday. TD Cowen reiterated a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.82.
Colgate-Palmolive Price Performance
NYSE CL opened at $89.98 on Friday. The company has a market cap of $72.00 billion, a PE ratio of 35.01, a P/E/G ratio of 4.83 and a beta of 0.33. The firm’s 50 day moving average price is $90.72 and its 200-day moving average price is $88.95. 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 (NYSE:CL – Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The business also recently declared 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 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 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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