New Mexico Educational Retirement Board cut its position in Colgate-Palmolive (NYSE: CL – Get Rating) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,030 shares of the company stock after selling 2,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Colgate-Palmolive were worth $ 3,718,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CL. Norges Bank acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at about $ 649,161,000. BlackRock Inc. increased its holdings in shares of Colgate-Palmolive by 8.4% in the fourth quarter. BlackRock Inc. now owns 65,218,485 shares of the company stock valued at $ 5,565,745,000 after purchasing an additional 5,039,853 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Colgate-Palmolive by 359.6% in the fourth quarter. Lazard Asset Management LLC now owns 3,477,341 shares of the company stock valued at $ 296,754,000 after purchasing an additional 2,720,790 shares during the period. Barclays PLC grew its holdings in Colgate-Palmolive by 55.5% during the fourth quarter. Barclays PLC now owns 6,261,881 shares of the company stock worth $ 534,391,000 after acquiring an additional 2,235,332 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $ 134,062,000. 78.12% of the stock is currently owned by institutional investors and hedge funds.
NYSE CL opened at $ 74.04 on Friday. The company has a market cap of $ 62.04 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 5.00 and a beta of 0.56. The stock’s 50 day simple moving average is $ 78.11 and its 200-day simple moving average is $ 79.12. Colgate-Palmolive has a 1-year low of $ 72.20 and a 1-year high of $ 85.61. The company has a debt-to-equity ratio of 10.42, a current ratio of 1.09 and a quick ratio of 0.67.
Colgate-Palmolive (NYSE: CL – Get Rating) last released its earnings results on Friday, April 29th. The company reported $ 0.74 earnings per share for the quarter, meeting the consensus estimate of $ 0.74. The business had revenue of $ 4.40 billion for the quarter, compared to the estimate consensus of $ 4.40 billion. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $ 0.80 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Thursday, July 21st will be given a $ 0.47 dividend. The ex-dividend date is Wednesday, July 20th. This represents a $ 1.88 annualized dividend and a dividend yield of 2.54%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 77.69%.
Colgate-Palmolive announced that its board has initiated a stock repurchase program on Thursday, March 10th that allows the company to buyback $ 5.00 billion in shares. This buyback authorization allows the company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company leadership believes its shares are undervalued.
CL has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Colgate-Palmolive from $ 91.00 to $ 88.00 in a report on Monday, May 2nd. Atlantic Securities lowered Colgate-Palmolive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $ 92.00 to $ 80.00 in a report on Tuesday, May 3rd. Barclays dropped their target price on Colgate-Palmolive from $ 77.00 to $ 71.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. TheStreet raised Colgate-Palmolive from a “c +” rating to a “b” rating in a report on Friday, April 29th. Finally, StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $ 85.40.
In related news, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $ 79.34, for a total transaction of $ 3,967,000.00. Following the transaction, the chief executive officer now owns 221,790 shares in the company, valued at $ 17,596,818.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Philip G. Shotts sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $ 78.52, for a total value of $ 785,200.00. Following the transaction, the vice president now owns 46,094 shares in the company, valued at approximately $ 3,619,300.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,683 shares of company stock worth $ 6,297,119. 0.32% of the stock is currently owned by company insiders.
Colgate-Palmolive Company Profile: (Get Rating)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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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