Colgate-Palmolive (NYSE:CL) Shares Bought by DNB Asset Management AS

DNB Asset Management AS increased its holdings in Colgate-Palmolive (NYSE:CL) by 39.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,184 shares of the company’s stock after purchasing an additional 49,804 shares during the period. DNB Asset Management AS’s holdings in Colgate-Palmolive were worth $12,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Old North State Trust LLC lifted its stake in Colgate-Palmolive by 2.8% in the first quarter. Old North State Trust LLC now owns 8,452 shares of the company’s stock worth $579,000 after acquiring an additional 231 shares during the period. Pacer Advisors Inc. bought a new position in Colgate-Palmolive in the first quarter worth about $5,694,000. 6 Meridian raised its holdings in Colgate-Palmolive by 2,964.3% in the first quarter. 6 Meridian now owns 231,964 shares of the company’s stock worth $15,899,000 after purchasing an additional 224,394 shares in the last quarter. Cordasco Financial Network raised its holdings in Colgate-Palmolive by 28.6% in the first quarter. Cordasco Financial Network now owns 900 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares in the last quarter. Finally, Manning & Napier Group LLC raised its holdings in Colgate-Palmolive by 2.7% in the first quarter. Manning & Napier Group LLC now owns 646,938 shares of the company’s stock worth $44,340,000 after purchasing an additional 16,890 shares in the last quarter. Institutional investors own 76.04% of the company’s stock.

A number of brokerages recently commented on CL. Zacks Investment Research lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Morgan Stanley upped their target price on Colgate-Palmolive from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Citigroup set a $68.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Jefferies Financial Group upped their price objective on Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. Finally, UBS Group upped their price objective on Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.81.

Shares of NYSE:CL traded up $0.13 during midday trading on Friday, reaching $71.95. 2,433,465 shares of the company’s stock were exchanged, compared to its average volume of 3,805,304. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. The company has a market capitalization of $61.77 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 4.77 and a beta of 0.81. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $72.85.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period last year, the company earned $0.74 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.39%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.91%.

In other news, CEO Ian M. Cook sold 22,634 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.31, for a total transaction of $1,500,860.54. Following the sale, the chief executive officer now owns 1,162,793 shares of the company’s stock, valued at approximately $77,104,803.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Dennis J. Hickey sold 6,060 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $66.37, for a total value of $402,202.20. Following the transaction, the insider now directly owns 407,294 shares in the company, valued at approximately $27,032,102.78. The disclosure for this sale can be found here. Insiders sold a total of 246,149 shares of company stock valued at $17,203,908 in the last quarter. Company insiders own 1.14% of the company’s stock.

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Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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