Principal Financial Group Inc. Has $77.15 Million Position in Colgate-Palmolive Company $CL

Key Points

• Principal Financial Group increased its Colgate-Palmolive stake by 2.0% in the fourth quarter, ending with 976,293 shares valued at about $77.1 million.
• Colgate-Palmolive reported better-than-expected quarterly results, posting $0.97 EPS on $5.32 billion in revenue, both above analyst estimates. Revenue rose 8.4% year over year.
• The company also raised its quarterly dividend to $0.53 per share from $0.52, implying a $2.12 annualized payout and a 2.4% yield.

Principal Financial Group Inc. raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 976,293 shares of the company's stock after acquiring an additional 19,508 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Colgate-Palmolive worth $77,147,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CL. Maseco LLP bought a new position in shares of Colgate-Palmolive in the fourth quarter worth $27,000. Copia Wealth Management acquired a new stake in Colgate-Palmolive during the third quarter worth about $29,000. Cloud Capital Management LLC bought a new position in Colgate-Palmolive in the 3rd quarter valued at about $30,000. Global Wealth Strategies & Associates increased its holdings in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock valued at $32,000 after buying an additional 300 shares during the period. Finally, Grove Bank & Trust raised its position in shares of Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company's stock valued at $32,000 after buying an additional 263 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. TD Cowen reaffirmed a "hold" rating and issued a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Evercore boosted their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Finally, Barclays upped their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $95.88.

Insider Activity

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer directly owned 10,415 shares of the company's stock, valued at $1,018,691.15. The trade was a 59.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Hazlin sold 20,989 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares of the company's stock, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 70,989 shares of company stock worth $6,756,713. Company insiders own 0.43% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $87.39 on Friday. The firm's fifty day moving average price is $87.38 and its two-hundred day moving average price is $84.34. The stock has a market cap of $70.11 billion, a PE ratio of 34.00, a PEG ratio of 4.57 and a beta of 0.31. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.29 and a current ratio of 1.02. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The company 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 386.76% and a net margin of 10.04%.Colgate-Palmolive's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, equities analysts expect that Colgate-Palmolive Company will post 3.83 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive's payout ratio is 82.49%.

About Colgate-Palmolive

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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