Resona Asset Management Co. Ltd. Buys 23,597 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Colgate-Palmolive by 7.7%, acquiring an additional 23,597 shares to hold a total of 328,463 shares valued at approximately $30.7 million.
• Colgate-Palmolive recently reported an earnings per share of $0.92 for the last quarter, surpassing expectations, with a revenue of $5.11 billion.
• The company announced a quarterly dividend of $0.52 per share, with a yield of 2.4%, to be paid to shareholders on August 15th.

Resona Asset Management Co. Ltd. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,463 shares of the company's stock after purchasing an additional 23,597 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Colgate-Palmolive were worth $30,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in Colgate-Palmolive during the 1st quarter worth $217,593,000. Goldman Sachs Group Inc. boosted its holdings in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Colgate-Palmolive by 35.6% during the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after acquiring an additional 1,816,865 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock valued at $521,250,000 after acquiring an additional 1,727,105 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $111,738,000. Institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

CL has been the topic of several recent research reports. Citigroup cut their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Morgan Stanley cut their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Barclays lifted their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $98.92.

Colgate-Palmolive Trading Up 0.4%

Shares of NYSE CL traded up $0.37 during trading hours on Friday, hitting $85.02. The company's stock had a trading volume of 4,150,397 shares, compared to its average volume of 4,861,582. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a market cap of $68.71 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 4.43 and a beta of 0.35. Colgate-Palmolive Company has a 12 month low of $82.40 and a 12 month high of $109.30. The business has a 50-day simple moving average of $88.21 and a 200-day simple moving average of $90.00.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.11 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

Colgate-Palmolive Company 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.