Destiny Wealth Partners LLC boosted its stake in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 37.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,557 shares of the company’s stock after purchasing an additional 427 shares during the period. Destiny Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $118,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Colgate-Palmolive by 8.4% during the 4th quarter. BlackRock Inc. now owns 65,218,485 shares of the company’s stock worth $5,565,745,000 after purchasing an additional 5,039,853 shares during the last quarter. State Street Corp boosted its holdings in shares of Colgate-Palmolive by 1.6% in the 4th quarter. State Street Corp now owns 49,282,107 shares of the company’s stock valued at $4,205,735,000 after acquiring an additional 753,469 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Colgate-Palmolive by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 15,342,882 shares of the company’s stock valued at $1,306,535,000 after acquiring an additional 707,482 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Colgate-Palmolive by 4.0% in the 4th quarter. Deutsche Bank AG now owns 8,093,507 shares of the company’s stock valued at $690,698,000 after acquiring an additional 311,952 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $649,161,000. 78.12% of the stock is currently owned by institutional investors.
NYSE:CL opened at $81.97 on Friday. The company has a debt-to-equity ratio of 10.42, a quick ratio of 0.67 and a current ratio of 1.09. The company has a fifty day moving average of $77.68 and a two hundred day moving average of $79.13. The stock has a market capitalization of $68.69 billion, a PE ratio of 33.87, a P/E/G ratio of 5.43 and a beta of 0.56. Colgate-Palmolive has a fifty-two week low of $72.20 and a fifty-two week high of $85.61.
Colgate-Palmolive (NYSE:CL – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Colgate-Palmolive had a net margin of 11.70% and a return on equity of 296.77%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. Research analysts forecast that Colgate-Palmolive will post 3.05 earnings per share for the current year.
Colgate-Palmolive announced that its Board of Directors has initiated a share buyback plan on Thursday, March 10th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 8.1% of its shares through open market purchases. Share repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Thursday, July 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, July 20th. Colgate-Palmolive’s payout ratio is 77.69%.
In other news, VP Philip G. Shotts sold 10,000 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $78.52, for a total transaction of $785,200.00. Following the completion of the sale, the vice president now owns 46,094 shares of the company’s stock, valued at $3,619,300.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Noel R. Wallace sold 50,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $79.34, for a total transaction of $3,967,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,790 shares of the company’s stock, valued at approximately $17,596,818.60. The disclosure for this sale can be found here. Insiders have sold 79,683 shares of company stock valued at $6,297,119 in the last ninety days. Insiders own 0.31% of the company’s stock.
CL has been the topic of several recent research reports. Barclays dropped their price objective on shares of 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 shares of Colgate-Palmolive from a “c+” rating to a “b” rating in a report on Friday, April 29th. The Goldman Sachs Group dropped their price objective on shares of Colgate-Palmolive from $104.00 to $95.00 in a report on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Colgate-Palmolive from $91.00 to $88.00 in a research note on Monday, May 2nd. Finally, Raymond James assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, April 7th. They issued a “market perform” rating for the company. One equity research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.92.
Colgate-Palmolive 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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