Meiji Yasuda Asset Management Co Ltd. Has $7.46 Million Stake in Colgate-Palmolive Company $CL

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 24.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,452 shares of the company’s stock after selling 29,927 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Colgate-Palmolive were worth $7,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Maseco LLP acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Copia Wealth Management acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $29,000. Cloud Capital Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates raised its position in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CL. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Barclays boosted their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Bank of America lowered their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Up 0.1%

Shares of CL opened at $90.48 on Friday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a market cap of $72.59 billion, a P/E ratio of 35.21, a P/E/G ratio of 4.69 and a beta of 0.31. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $86.08 and a two-hundred day simple moving average of $85.11.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Research analysts forecast that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 20th. This is a boost 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 2.3%. Colgate-Palmolive’s payout ratio is presently 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.