Franklin Resources Inc. Raises Holdings in Colgate-Palmolive Company $CL

Franklin Resources Inc. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 47.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,044,168 shares of the company’s stock after buying an additional 1,942,946 shares during the quarter. Franklin Resources Inc.’s holdings in Colgate-Palmolive were worth $477,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CL. Brighton Jones LLC increased its position in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the period. Woodline Partners LP lifted its position in shares of Colgate-Palmolive by 76.3% in the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after purchasing an additional 20,062 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of Colgate-Palmolive by 2.0% during the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after purchasing an additional 245 shares in the last quarter. Nebula Research & Development LLC increased its holdings in Colgate-Palmolive by 165.5% during the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock valued at $939,000 after buying an additional 6,437 shares during the period. Finally, Sei Investments Co. increased its holdings in Colgate-Palmolive by 21.7% during the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock valued at $59,732,000 after buying an additional 116,968 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Bank of America dropped their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Finally, TD Cowen reiterated a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Stock Performance

Shares of CL opened at $86.01 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm has a market cap of $68.83 billion, a PE ratio of 33.47, a P/E/G ratio of 4.60 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 stock has a fifty day moving average price of $86.53 and a 200-day moving average price of $86.03.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is currently 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.