State of Tennessee Treasury Department Increases Position in Colgate-Palmolive (NYSE:CL)

State of Tennessee Treasury Department increased its stake in Colgate-Palmolive (NYSE:CLFree Report) by 95.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,397 shares of the company’s stock after acquiring an additional 148,428 shares during the period. State of Tennessee Treasury Department’s holdings in Colgate-Palmolive were worth $24,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vest Financial LLC grew its position in Colgate-Palmolive by 25.1% in the fourth quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock worth $29,498,000 after acquiring an additional 74,337 shares in the last quarter. Central Bank & Trust Co. lifted its stake in Colgate-Palmolive by 22.1% in the fourth quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock worth $110,000 after purchasing an additional 250 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Colgate-Palmolive by 9.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after purchasing an additional 910 shares during the last quarter. Sarasin & Partners LLP lifted its stake in Colgate-Palmolive by 1.2% in the fourth quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock worth $323,115,000 after purchasing an additional 49,980 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in Colgate-Palmolive by 2.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock worth $571,000 after purchasing an additional 172 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on CL shares. Evercore ISI boosted their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Bank of America upped their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Royal Bank of Canada upped their price objective on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Finally, Argus upped their price objective on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $92.94.

View Our Latest Research Report on Colgate-Palmolive

Insider Activity

In related news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $93.90 on Tuesday. The stock has a market cap of $77.04 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 3.46 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $95.59. The firm’s 50-day simple moving average is $91.22 and its two-hundred day simple moving average is $85.80.

Colgate-Palmolive (NYSE:CLGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd were issued a dividend of $0.50 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Colgate-Palmolive Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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