American Investment Services Inc. purchased a new position in Colgate-Palmolive (NYSE:CL) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,188 shares of the company’s stock, valued at approximately $424,000.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc boosted its holdings in Colgate-Palmolive by 1.0% in the third quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after purchasing an additional 734,860 shares during the period. BlackRock Inc. boosted its holdings in Colgate-Palmolive by 13.5% in the fourth quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock worth $3,609,804,000 after purchasing an additional 7,236,342 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Colgate-Palmolive by 3.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 32,521,377 shares of the company’s stock worth $1,935,674,000 after purchasing an additional 1,000,161 shares during the period. Northern Trust Corp boosted its holdings in Colgate-Palmolive by 3.0% in the fourth quarter. Northern Trust Corp now owns 10,760,664 shares of the company’s stock worth $640,475,000 after purchasing an additional 309,387 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Colgate-Palmolive by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after purchasing an additional 768,550 shares during the period. Institutional investors and hedge funds own 75.95% of the company’s stock.
A number of research firms have commented on CL. UBS Group lifted their price objective on shares of Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, March 29th. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Jefferies Financial Group boosted their price target on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a report on Monday, April 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $62.00 to $70.00 in a report on Monday, April 29th. Finally, ValuEngine raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $69.69.
Shares of CL opened at $72.50 on Friday. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $73.10. The firm has a market cap of $61.52 billion, a PE ratio of 24.41, a PEG ratio of 4.69 and a beta of 0.81. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.07 and a quick ratio of 0.74.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts anticipate that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were issued a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.72 annualized dividend and a yield of 2.37%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
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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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