DNB Asset Management AS Grows Stock Holdings in Colgate-Palmolive Company $CL

DNB Asset Management AS raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 918,682 shares of the company’s stock after purchasing an additional 163,344 shares during the period. DNB Asset Management AS owned approximately 0.11% of Colgate-Palmolive worth $72,594,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Maseco LLP purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $27,000. Copia Wealth Management purchased a new stake in Colgate-Palmolive during the third quarter valued at about $29,000. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive during the third quarter valued at about $30,000. Global Wealth Strategies & Associates increased its holdings 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 worth $32,000 after buying an additional 300 shares during the period. Finally, Grove Bank & Trust increased its holdings in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock worth $32,000 after buying an additional 263 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.7%

NYSE CL opened at $88.20 on Friday. 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 stock has a market capitalization of $70.76 billion, a PE ratio of 34.32, a PEG ratio of 4.60 and a beta of 0.31. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The business’s 50-day moving average is $86.30 and its 200 day moving average is $84.68.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.83 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 82.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. 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. Citigroup lifted their price objective on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Evercore lifted their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, TD Cowen reiterated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.