Dai ichi Life Insurance Company Ltd Cuts Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Dai ichi Life Insurance Company Ltd reduced its Colgate-Palmolive stake by 5.7% in the first quarter, selling 11,566 shares and ending with 192,622 shares valued at about $16.4 million.
• Institutional ownership remains high, with 80.41% of Colgate-Palmolive shares held by institutions, and several other investors also increased or adjusted their positions during the quarter.
• Wall Street sentiment is broadly positive: analysts currently rate the stock a Moderate Buy, with a consensus price target of $97.82, while the shares recently traded at $90.74 after the company beat quarterly earnings and revenue expectations.

Dai ichi Life Insurance Company Ltd lowered its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 192,622 shares of the company's stock after selling 11,566 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Colgate-Palmolive were worth $16,417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Bollard Group LLC increased its holdings in shares of Colgate-Palmolive by 1.6% in the 1st quarter. Bollard Group LLC now owns 38,354 shares of the company's stock valued at $3,269,000 after acquiring an additional 601 shares during the period. Morningstar Investment Management LLC lifted its stake in shares of Colgate-Palmolive by 29.0% during the 1st quarter. Morningstar Investment Management LLC now owns 65,023 shares of the company's stock worth $5,542,000 after purchasing an additional 14,607 shares during the last quarter. Compound Planning Inc. boosted its position in Colgate-Palmolive by 7.2% during the first quarter. Compound Planning Inc. now owns 22,435 shares of the company's stock valued at $1,912,000 after purchasing an additional 1,507 shares in the last quarter. Klingman & Associates LLC grew its stake in Colgate-Palmolive by 4.8% in the first quarter. Klingman & Associates LLC now owns 4,118 shares of the company's stock valued at $351,000 after purchasing an additional 188 shares during the last quarter. Finally, Modern Wealth Management LLC raised its holdings in Colgate-Palmolive by 11.3% in the first quarter. Modern Wealth Management LLC now owns 6,674 shares of the company's stock worth $570,000 after purchasing an additional 678 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CL. Citigroup lifted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Weiss Ratings raised Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $96.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Twelve equities 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.82.

Colgate-Palmolive Trading Up 0.7%

Shares of Colgate-Palmolive stock opened at $90.74 on Friday. The firm's 50 day simple moving average is $90.77 and its two-hundred day simple moving average is $88.96. The firm has a market capitalization of $72.61 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 4.74 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. 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 (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The business 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%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. Analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive's payout ratio is currently 82.49%.

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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