PKO Investment Management Joint Stock Co acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,740 shares of the company's stock, valued at approximately $1,797,000.
A number of other hedge funds also recently made changes to their positions in CL. Maseco LLP purchased a new position in Colgate-Palmolive during the 4th quarter valued at approximately $27,000. Copia Wealth Management purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $29,000. Cloud Capital Management LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $30,000. Global Wealth Strategies & Associates boosted its position in shares of Colgate-Palmolive by 300.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company's stock valued at $32,000 after purchasing an additional 263 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Trading Up 2.1%
Shares of NYSE CL opened at $87.15 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The firm has a market cap of $69.92 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 4.46 and a beta of 0.31. The business has a fifty day simple moving average of $87.95 and a two-hundred day simple moving average of $84.11. 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, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. Analysts expect that Colgate-Palmolive Company will post 3.85 earnings per share for the current fiscal year.
Colgate-Palmolive Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, April 20th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio (DPR) is currently 80.92%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Colgate-Palmolive from $97.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a report on Friday. TD Cowen restated a "hold" rating and set a $85.00 target price on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Finally, Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $95.56.
View Our Latest Report on Colgate-Palmolive
Insider Buying and Selling at Colgate-Palmolive
In other news, insider Sally Massey sold 15,851 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the transaction, the insider directly owned 13,751 shares in the company, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $985,363.15. The trade was a 77.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 184,683 shares of company stock worth $17,486,693. Company insiders own 0.43% of the company's stock.
Trending Headlines about Colgate-Palmolive
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Colgate-Palmolive Company Profile
(
Free Report)
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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