Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stake in Colgate-Palmolive Company $CL

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Colgate-Palmolive Company (NYSE:CL) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,495 shares of the company’s stock after selling 6,588 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Colgate-Palmolive were worth $14,816,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CL. Norges Bank purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $861,670,000. Northwestern Mutual Wealth Management Co. raised its position in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Diamond Hill Capital Management Inc. raised its position in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after purchasing an additional 2,572,796 shares during the period. Amundi raised its position in Colgate-Palmolive by 41.6% in the third quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after purchasing an additional 1,850,412 shares during the period. Finally, Two Sigma Investments LP raised its position in Colgate-Palmolive by 360.9% in the third quarter. Two Sigma Investments LP now owns 2,126,249 shares of the company’s stock valued at $169,972,000 after purchasing an additional 1,664,949 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CL shares. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Citigroup raised their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. TD Cowen restated a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Barclays raised their target price on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Stock Up 0.1%

Shares of Colgate-Palmolive stock opened at $90.26 on Monday. The business has a 50-day moving average of $86.29 and a 200-day moving average of $85.69. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The company has a market capitalization of $72.22 billion, a PE ratio of 35.12, a P/E/G ratio of 4.68 and a beta of 0.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33.

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

Colgate-Palmolive Increases Dividend

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

Colgate-Palmolive Profile

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.