Elkhorn Investments LLC increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 4.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,429 shares of the company’s stock after purchasing an additional 743 shares during the period. Elkhorn Investments LLC’s holdings in Colgate-Palmolive were worth $1,246,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CL. Vanguard Group Inc. raised its holdings in shares of Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after acquiring an additional 1,621,392 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Colgate-Palmolive by 1.4% in the 4th quarter. BlackRock Inc. now owns 52,360,691 shares of the company’s stock valued at $3,950,614,000 after acquiring an additional 711,972 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after acquiring an additional 2,903,800 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 8,975,479 shares of the company’s stock valued at $675,751,000 after acquiring an additional 188,455 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Colgate-Palmolive by 25.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock valued at $508,111,000 after acquiring an additional 1,385,946 shares in the last quarter. 73.64% of the stock is currently owned by institutional investors and hedge funds.
CL has been the topic of several recent analyst reports. BNP Paribas cut Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 30th. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Deutsche Bank initiated coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They set a “hold” rating and a $75.00 price objective on the stock. Citigroup raised their price objective on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Finally, KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a report on Saturday, November 25th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $77.71.
In other news, insider Daniel B. Marsili sold 5,692 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $70.19, for a total value of $399,521.48. Following the sale, the insider now directly owns 41,677 shares in the company, valued at approximately $2,925,308.63. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Daniels sold 902 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of the sale, the insider now owns 37,788 shares in the company, valued at $2,865,086.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 455,707 shares of company stock worth $32,443,427. 1.02% of the stock is owned by corporate insiders.
CL stock traded down $0.71 on Wednesday, reaching $68.98. The company had a trading volume of 722,571 shares, compared to its average volume of 3,987,532. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 27.02. Colgate-Palmolive has a fifty-two week low of $68.19 and a fifty-two week high of $77.91. The company has a market cap of $61,325.39, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 2.59 and a beta of 0.79.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 26th. The company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $0.75 EPS. Colgate-Palmolive’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities research analysts anticipate that Colgate-Palmolive will post 3.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 20th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.44%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 70.18%.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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