Daiwa Securities Group Inc. Sells 13,148 Shares of Colgate-Palmolive Company $CL

Daiwa Securities Group Inc. cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 7.2% during the 4th quarter, HoldingsChannel reports. The firm owned 168,461 shares of the company’s stock after selling 13,148 shares during the period. Daiwa Securities Group Inc.’s holdings in Colgate-Palmolive were worth $13,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after purchasing an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares during the last quarter. Norges Bank bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $861,670,000. Invesco Ltd. grew its holdings in shares of Colgate-Palmolive by 13.1% during the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after purchasing an additional 978,943 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after purchasing an additional 2,572,796 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Up 4.1%

Shares of NYSE CL opened at $88.61 on Friday. The company has a 50 day simple moving average of $86.49 and a 200 day simple moving average of $85.93. The firm has a market cap of $70.91 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 4.60 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts forecast that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a report on Tuesday, April 21st. Bank of America dropped their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a report on Friday, April 10th. 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. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus 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.