Resources Management Corp CT ADV Boosts Stake in Colgate-Palmolive Company $CL

Resources Management Corp CT ADV raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 209.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,606 shares of the company’s stock after purchasing an additional 5,822 shares during the quarter. Resources Management Corp CT ADV’s holdings in Colgate-Palmolive were worth $680,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter valued at $861,670,000. Northwestern Mutual Wealth Management Co. raised its position in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Deutsche Bank AG raised its position in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. Franklin Resources Inc. raised its position in Colgate-Palmolive by 47.4% in the fourth quarter. Franklin Resources Inc. now owns 6,044,168 shares of the company’s stock valued at $477,610,000 after purchasing an additional 1,942,946 shares during the period. Finally, Amundi raised its position in Colgate-Palmolive by 41.6% in the third quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after purchasing an additional 1,850,412 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research analyst reports. Barclays lifted 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. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Bank of America cut their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Sanford C. Bernstein began coverage on Colgate-Palmolive in a report on Thursday. They issued a “market perform” rating and a $96.00 price objective on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Price Performance

CL stock opened at $90.59 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The company has a market capitalization of $72.49 billion, a PE ratio of 35.25, a P/E/G ratio of 4.72 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The business’s fifty day moving average price is $86.96 and its 200 day moving average price is $86.38.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 82.49%.

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.