Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Colgate-Palmolive (NYSE:CL) by 31.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 282,011 shares of the company’s stock after purchasing an additional 68,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Colgate-Palmolive were worth $16,785,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Genesis Asset Managers LLP bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth about $184,557,000. Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after buying an additional 1,596,825 shares during the period. Morgan Stanley boosted its holdings in shares of Colgate-Palmolive by 15.0% during the 3rd quarter. Morgan Stanley now owns 7,212,524 shares of the company’s stock worth $482,879,000 after buying an additional 941,008 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Colgate-Palmolive by 376.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,502 shares of the company’s stock worth $69,073,000 after buying an additional 917,012 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Colgate-Palmolive by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after buying an additional 734,860 shares during the period. 74.62% of the stock is owned by institutional investors and hedge funds.
CL opened at $64.74 on Wednesday. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $72.61. The company has a market cap of $56.54 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 4.21 and a beta of 0.78.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 25th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a net margin of 15.44% and a return on equity of 25,268.29%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 23rd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, January 22nd. Colgate-Palmolive’s dividend payout ratio is currently 56.57%.
In other news, Director John T. Cahill sold 5,780 shares of the company’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $64.46, for a total value of $372,578.80. Following the sale, the director now directly owns 27,820 shares of the company’s stock, valued at approximately $1,793,277.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.02% of the company’s stock.
Several brokerages recently commented on CL. Jefferies Financial Group reaffirmed a “hold” rating and set a $61.00 target price on shares of Colgate-Palmolive in a report on Friday, February 1st. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Wells Fargo & Co reiterated a “hold” rating and set a $57.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, January 31st. SunTrust Banks cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $80.00 to $65.00 in a research report on Friday, October 26th. Finally, Morgan Stanley set a $62.00 price objective on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $65.00.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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