OVERSEA CHINESE BANKING Corp Ltd Increases Stake in Colgate-Palmolive (NYSE:CL)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 25.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,661 shares of the company’s stock after acquiring an additional 2,782 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Colgate-Palmolive were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in shares of Colgate-Palmolive in the third quarter worth $25,000. Avion Wealth increased its stake in Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $34,000. Quarry LP raised its holdings in Colgate-Palmolive by 48.2% during the second quarter. Quarry LP now owns 446 shares of the company’s stock valued at $34,000 after acquiring an additional 145 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Colgate-Palmolive by 142.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Up 0.5 %

Shares of NYSE CL opened at $87.13 on Monday. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $90.37. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71. The business’s 50 day moving average is $87.10 and its two-hundred day moving average is $80.93. The stock has a market capitalization of $71.62 billion, a P/E ratio of 31.34, a PEG ratio of 3.27 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Colgate-Palmolive will post 3.5 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a $0.50 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is currently 71.94%.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Evercore ISI increased their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. UBS Group boosted their target price on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 29th. The Goldman Sachs Group started coverage on shares of Colgate-Palmolive in a research note on Friday, March 1st. They set a “buy” rating and a $93.00 target price for the company. Finally, Raymond James upgraded shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 29,772 shares of Colgate-Palmolive stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the completion of the transaction, the chief executive officer now directly owns 301,343 shares of the company’s stock, valued at approximately $25,330,892.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total transaction of $233,220.00. Following the completion of the sale, the director now directly owns 19,272 shares in the company, valued at $1,628,484. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Noel R. Wallace sold 29,772 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the completion of the transaction, the chief executive officer now owns 301,343 shares in the company, valued at $25,330,892.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,371 shares of company stock worth $19,505,099. 0.37% of the stock is currently owned by insiders.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.