Colgate-Palmolive Company $CL Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 256.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,417 shares of the company’s stock after acquiring an additional 75,146 shares during the period. Rakuten Investment Management Inc.’s holdings in Colgate-Palmolive were worth $8,321,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CL. CBIZ Investment Advisory Services LLC grew its holdings in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Triumph Capital Management grew its position in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $26,000. Maseco LLP acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $27,000. Finally, Motiv8 Investments LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $27,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.0%

CL stock opened at $90.56 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The firm’s 50-day simple moving average is $87.07 and its 200 day simple moving average is $86.45. The stock has a market cap of $72.47 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 4.78 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Analyst Ratings Changes

CL has been the topic of several research reports. Bank of America dropped their price target on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. TD Cowen restated a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have issued 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 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.