Arrowstreet Capital Limited Partnership Increases Stock Position in Colgate-Palmolive Company $CL

Arrowstreet Capital Limited Partnership lifted its holdings in Colgate-Palmolive Company (NYSE:CL) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,460,629 shares of the company’s stock after purchasing an additional 101,658 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Colgate-Palmolive were worth $431,499,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CL. Vanguard Group Inc. lifted its position in Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after acquiring an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC lifted its position in Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after acquiring an additional 304,426 shares during the last quarter. Morgan Stanley lifted its position in Colgate-Palmolive by 1.7% during the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after acquiring an additional 323,367 shares during the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $861,670,000. Finally, Deutsche Bank AG lifted its position in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after acquiring an additional 2,746,920 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Trading Up 0.0%

NYSE CL opened at $89.40 on Friday. The company has a fifty day simple moving average of $86.85 and a two-hundred day simple moving average of $86.25. The stock has a market cap of $71.54 billion, a P/E ratio of 34.79, a P/E/G ratio of 4.72 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. On average, analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

Colgate-Palmolive Company 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.