HighTower Advisors LLC Cuts Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• HighTower Advisors LLC trimmed its Colgate-Palmolive stake by 4.0% in the fourth quarter, selling 33,957 shares and ending with 816,732 shares valued at about $64.5 million.
• Other institutions were mostly adding to the stock, with firms like Vanguard, Invesco, and Diamond Hill increasing their holdings; overall, hedge funds and institutional investors own 80.41% of Colgate-Palmolive.
• Colgate-Palmolive reported better-than-expected earnings for the latest quarter and raised its dividend to $0.53 per share, while analysts currently rate the stock a “Moderate Buy” with an average target price of $95.88.

HighTower Advisors LLC decreased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 816,732 shares of the company's stock after selling 33,957 shares during the quarter. HighTower Advisors LLC owned 0.10% of Colgate-Palmolive worth $64,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Colgate-Palmolive by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company's stock worth $6,633,570,000 after buying an additional 1,026,985 shares in the last quarter. Invesco Ltd. increased its holdings in Colgate-Palmolive by 13.1% in the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company's stock worth $676,931,000 after buying an additional 978,943 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company's stock worth $645,719,000 after buying an additional 2,572,796 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Colgate-Palmolive by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company's stock worth $625,758,000 after buying an additional 29,876 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Colgate-Palmolive by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company's stock worth $517,167,000 after buying an additional 314,584 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a "hold" rating in a report on Monday, February 2nd. Morgan Stanley reiterated an "overweight" rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. The Goldman Sachs Group reiterated a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Barclays boosted their target price on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.88.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $90.44 on Thursday. The firm's 50 day moving average price is $86.12 and its 200-day moving average price is $85.02. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $72.56 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 4.67 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. Equities research analysts expect that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 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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