Sei Investments Co. Buys 352,476 Shares of Colgate-Palmolive Company $CL

Sei Investments Co. grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 39.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,241,878 shares of the company’s stock after acquiring an additional 352,476 shares during the quarter. Sei Investments Co. owned about 0.15% of Colgate-Palmolive worth $105,848,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in Colgate-Palmolive by 27.0% in the 1st quarter. Cetera Investment Advisers now owns 387,355 shares of the company’s stock worth $33,014,000 after purchasing an additional 82,255 shares during the period. Envision Financial Transparency LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at $338,000. First Citizens Bank & Trust Co. lifted its holdings in shares of Colgate-Palmolive by 4.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 13,483 shares of the company’s stock valued at $1,149,000 after buying an additional 581 shares during the period. ABN Amro Investment Solutions boosted its stake in shares of Colgate-Palmolive by 7.9% in the 1st quarter. ABN Amro Investment Solutions now owns 140,942 shares of the company’s stock worth $12,012,000 after buying an additional 10,264 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Colgate-Palmolive by 1.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 899,670 shares of the company’s stock worth $76,679,000 after buying an additional 9,279 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL opened at $89.98 on Friday. The business has a 50-day simple moving average of $90.72 and a two-hundred day simple moving average of $88.95. 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 52 week low of $74.54 and a 52 week high of $99.33. The stock has a market cap of $72.00 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 4.83 and a beta of 0.33.

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 analysts’ consensus estimates of $0.94 by $0.03. The firm 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s payout ratio is currently 82.49%.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group upped their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Barclays boosted their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target for the company. Finally, Bank of America dropped their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.82.

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.