IFM Investors Pty Ltd increased its position in shares of Colgate-Palmolive (NYSE:CL) by 15.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 78,718 shares of the company’s stock after buying an additional 10,766 shares during the quarter. IFM Investors Pty Ltd’s holdings in Colgate-Palmolive were worth $6,731,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Colgate-Palmolive by 6.7% in the third quarter. BlackRock Inc. now owns 60,060,209 shares of the company’s stock valued at $4,633,644,000 after acquiring an additional 3,752,328 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Colgate-Palmolive by 63.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,463,837 shares of the company’s stock valued at $112,935,000 after purchasing an additional 566,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in Colgate-Palmolive by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,764,951 shares of the company’s stock valued at $286,965,000 after purchasing an additional 462,211 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Colgate-Palmolive by 176.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 710,436 shares of the company’s stock worth $53,608,000 after purchasing an additional 453,363 shares during the period. Finally, Victory Capital Management Inc. grew its position in Colgate-Palmolive by 31.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,373,663 shares of the company’s stock worth $105,978,000 after purchasing an additional 331,299 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on CL. Wells Fargo & Company started coverage on shares of Colgate-Palmolive in a research note on Monday, December 7th. They set an “underweight” rating and a $80.00 target price for the company. BidaskClub downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, January 7th. Morgan Stanley boosted their target price on Colgate-Palmolive from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. UBS Group increased their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Finally, Truist boosted their price objective on shares of Colgate-Palmolive from $80.00 to $85.00 in a research note on Monday, October 26th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and an average price target of $78.58.
Shares of NYSE:CL traded up $0.23 on Wednesday, reaching $82.49. 3,851,577 shares of the company were exchanged, compared to its average volume of 4,826,150. The company has a 50-day moving average of $84.63 and a 200-day moving average of $79.57. The company has a current ratio of 0.97, a quick ratio of 0.62 and a debt-to-equity ratio of 6.50. The firm has a market cap of $70.71 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 4.18 and a beta of 0.59. Colgate-Palmolive has a 1-year low of $58.49 and a 1-year high of $86.41.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. Colgate-Palmolive had a net margin of 16.65% and a return on equity of 383.88%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that Colgate-Palmolive will post 3.05 earnings per share for the current year.
Colgate-Palmolive Company Profile
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 products include 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 similar items.
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