Ninety One North America Inc. Purchases Shares of 74,432 Colgate-Palmolive Company $CL

Key Points

• Ninety One North America purchased a new 74,432-share stake in Colgate-Palmolive (NYSE:CL) in Q4, valued at about $5.88 million.
• Colgate beat Q4 estimates with $0.95 EPS vs. $0.91 expected and reported $5.23 billion in revenue (up 5.8% year-over-year), with sell-side analysts projecting roughly 3.75 EPS for the fiscal year.
• The company raised its quarterly dividend to $0.53 (annualized $2.12, ~2.5% yield), while insiders sold about 184,683 shares (~$17.5 million) in the past 90 days and institutional investors own approximately 80.41% of the stock.

Ninety One North America Inc. purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 74,432 shares of the company's stock, valued at approximately $5,882,000.

Several other hedge funds have also added to or reduced their stakes in CL. ProShare Advisors LLC increased its position in Colgate-Palmolive by 11.0% during the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company's stock worth $163,681,000 after buying an additional 202,379 shares during the period. Providence Capital Advisors LLC bought a new position in Colgate-Palmolive during the 3rd quarter worth $5,373,000. Asset Management One Co. Ltd. increased its position in Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company's stock worth $33,758,000 after buying an additional 16,017 shares during the period. Citigroup Inc. increased its position in Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company's stock worth $107,646,000 after buying an additional 409,710 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in Colgate-Palmolive by 248.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company's stock worth $6,909,000 after buying an additional 62,327 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 2.6%

CL stock opened at $85.83 on Friday. The company has a market cap of $68.86 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 4.16 and a beta of 0.34. The business has a 50-day simple moving average of $89.99 and a 200 day simple moving average of $83.71. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.Colgate-Palmolive's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive's payout ratio is presently 79.39%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CL shares. TD Cowen reiterated a "hold" rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Bank of America lowered their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $97.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Rothschild & Co Redburn set a $93.00 price objective on Colgate-Palmolive in a research report on Friday, February 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average target price of $95.44.

Insider Buying and Selling

In related news, insider John Hazlin sold 20,989 shares of the business's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares of the company's stock, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sally Massey sold 15,851 shares of the business's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider directly owned 13,751 shares of the company's stock, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 184,683 shares of company stock worth $17,486,693 in the last ninety days. 0.43% of the stock is owned by company insiders.

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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