Swiss National Bank Buys 143,400 Shares of Colgate-Palmolive Company $CL

Key Points

• Swiss National Bank increased its stake in Colgate-Palmolive by 6.8% in the first quarter, buying 143,400 additional shares and bringing its holdings to 2,247,400 shares valued at about $191.5 million.
• Colgate-Palmolive reported better-than-expected first-quarter results, with EPS of $0.97 versus the $0.94 estimate and revenue of $5.32 billion, up 8.4% from a year earlier.
• The company declared a quarterly dividend of $0.53 per share payable August 14, implying an annualized yield of 2.3%; analysts currently have a consensus rating of “Moderate Buy” with an average price target of $97.41.

Swiss National Bank grew its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,247,400 shares of the company's stock after buying an additional 143,400 shares during the quarter. Swiss National Bank owned 0.28% of Colgate-Palmolive worth $191,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CL. Norges Bank bought a new stake in Colgate-Palmolive in the 4th quarter valued at $861,670,000. Bank of New York Mellon Corp increased its holdings in Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $236,682,000. Finally, Deutsche Bank AG lifted its holdings in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

NYSE:CL opened at $92.84 on Monday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The stock's 50-day simple moving average is $90.46 and its 200 day simple moving average is $88.60. The company has a market cap of $74.29 billion, a P/E ratio of 36.12, a P/E/G ratio of 4.90 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Colgate-Palmolive's revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio is currently 82.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Bank of America cut their target price on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $97.41.

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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