Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Colgate-Palmolive Company (NYSE:CL – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 503,412 shares of the company’s stock, valued at approximately $42,906,000. Colgate-Palmolive comprises 0.7% of Aware Super Pty Ltd as trustee of Aware Super’s portfolio, making the stock its 29th largest holding.
Several other large investors have also recently modified their holdings of CL. Norges Bank acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth $861,670,000. Bank of New York Mellon Corp increased its holdings 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 valued at $1,067,211,000 after purchasing an additional 7,927,238 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Colgate-Palmolive by 8,040.1% in 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 4th quarter worth $236,682,000. Finally, Deutsche Bank AG lifted its holdings in Colgate-Palmolive by 33.9% during the 4th 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 period. Institutional investors own 80.41% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Bank of America cut their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Barclays upped their target price on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Finally, Piper Sandler increased their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.41.
Colgate-Palmolive Stock Performance
CL stock opened at $94.02 on Friday. The firm has a market cap of $75.24 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 4.82 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. The stock has a 50-day moving average price of $90.35 and a 200-day moving average price of $88.51. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.
Colgate-Palmolive Dividend Announcement
The firm also recently declared 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 of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s payout ratio 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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