Colgate-Palmolive Company $CL Stock Position Boosted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 61.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 499,621 shares of the company’s stock after buying an additional 190,114 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Colgate-Palmolive were worth $39,940,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CL. SBI Securities Co. Ltd. increased its stake in shares of Colgate-Palmolive by 7.1% during the third quarter. SBI Securities Co. Ltd. now owns 3,606 shares of the company’s stock valued at $288,000 after acquiring an additional 240 shares during the period. Howe & Rusling Inc. boosted its stake in Colgate-Palmolive by 38.4% during the 3rd quarter. Howe & Rusling Inc. now owns 4,902 shares of the company’s stock valued at $392,000 after purchasing an additional 1,361 shares in the last quarter. Gallacher Capital Management LLC increased its position in shares of Colgate-Palmolive by 16.2% during the 3rd quarter. Gallacher Capital Management LLC now owns 13,738 shares of the company’s stock valued at $1,098,000 after purchasing an additional 1,915 shares during the period. Auxano Advisors LLC raised its stake in shares of Colgate-Palmolive by 102.6% in the 3rd quarter. Auxano Advisors LLC now owns 9,059 shares of the company’s stock worth $724,000 after buying an additional 4,587 shares in the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at $1,006,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $94.29 on Thursday. The company’s fifty day moving average is $81.56 and its two-hundred day moving average is $81.50. The company has a market cap of $76.00 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 4.22 and a beta of 0.29. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.Colgate-Palmolive’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is 79.39%.

Wall Street Analysts Forecast Growth

CL has been the topic of several research reports. Barclays boosted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a research report on Monday. Wells Fargo & Company upped their price target on Colgate-Palmolive from $86.00 to $94.00 and gave the company an “equal weight” rating in a report on Sunday. Finally, Morgan Stanley raised their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.47.

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.