Norges Bank Takes $861.67 Million Position in Colgate-Palmolive Company $CL

Norges Bank purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,904,453 shares of the company’s stock, valued at approximately $861,670,000.

Several other large investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its holdings in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Maseco LLP bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $27,000. Global Wealth Strategies & Associates increased its holdings in Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares during the last quarter. Grove Bank & Trust increased its holdings in Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after purchasing an additional 263 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays upped their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Bank of America reduced their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Evercore upped their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $90.26 on Friday. The stock has a 50 day moving average price of $86.29 and a 200 day moving average price of $85.64. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The stock has a market capitalization of $72.22 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 4.68 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.