DnB Asset Management AS Has $62.47 Million Position in Colgate-Palmolive Company $CL

Key Points

• DnB Asset Management AS has increased its stake in Colgate-Palmolive by 22.0%, owning 666,659 shares worth approximately $62.47 million after acquiring an additional 120,156 shares.
• Wall Street analysts have mixed views on Colgate-Palmolive, with price targets ranging from $86.00 to $109.00, and a consensus rating of "Moderate Buy" with a price target of $98.92.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52 per share, translating to an annualized dividend yield of 2.5% and a payout ratio of 58.43%.

DnB Asset Management AS grew its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 22.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 666,659 shares of the company's stock after purchasing an additional 120,156 shares during the period. DnB Asset Management AS owned approximately 0.08% of Colgate-Palmolive worth $62,466,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Westend Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at $29,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $31,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group cut their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Barclays increased their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Morgan Stanley cut their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.92.

Colgate-Palmolive Stock Down 1.2%

NYSE CL traded down $0.98 during trading on Monday, hitting $84.15. 3,971,439 shares of the company traded hands, compared to its average volume of 5,212,518. Colgate-Palmolive Company has a 12 month low of $82.40 and a 12 month high of $107.82. The business has a fifty day simple moving average of $86.74 and a 200 day simple moving average of $89.77. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The company has a market capitalization of $68.01 billion, a P/E ratio of 23.64, a PEG ratio of 4.43 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.