Harbour Investments Inc. Boosts Stock Position in Colgate-Palmolive Company $CL

Harbour Investments Inc. raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 206.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,115 shares of the company’s stock after buying an additional 15,570 shares during the period. Harbour Investments Inc.’s holdings in Colgate-Palmolive were worth $1,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CL. Providence Capital Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $5,373,000. ProShare Advisors LLC lifted its stake in shares of Colgate-Palmolive by 11.0% during the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Colgate-Palmolive by 18.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock worth $63,996,000 after purchasing an additional 122,202 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after purchasing an additional 409,710 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Colgate-Palmolive by 114.2% during the 4th quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock worth $1,843,000 after purchasing an additional 12,437 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $91.69 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The firm has a market capitalization of $73.37 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 4.74 and a beta of 0.31. 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 $86.24 and its 200-day simple moving average is $85.60.

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

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were issued a $0.53 dividend. 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%. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Analyst Ratings Changes

CL has been the subject of a number of analyst reports. Bank of America decreased their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Barclays upped their target price on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Citigroup boosted their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive 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.