Rakuten Investment Management Inc. Makes New $2.34 Million Investment in Colgate-Palmolive Company $CL

Rakuten Investment Management Inc. bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 29,271 shares of the company’s stock, valued at approximately $2,340,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after acquiring an additional 993,432 shares during the period. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the second quarter valued at $960,390,000. Invesco Ltd. grew its holdings in shares of Colgate-Palmolive by 9.1% in the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after purchasing an additional 621,841 shares during the last quarter. Acadian Asset Management LLC increased its stake in Colgate-Palmolive by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock worth $556,663,000 after buying an additional 1,839,853 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Colgate-Palmolive by 242.3% during the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after buying an additional 3,768,784 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday. TD Cowen reduced their price objective on Colgate-Palmolive from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Raymond James Financial decreased their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Bank of America dropped their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $85.00 price objective on Colgate-Palmolive in a report on Tuesday, December 16th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.44.

Colgate-Palmolive Trading Up 1.0%

Shares of NYSE:CL opened at $86.67 on Friday. The company has a market capitalization of $69.86 billion, a PE ratio of 24.28, a P/E/G ratio of 5.82 and a beta of 0.30. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The business’s fifty day simple moving average is $80.07 and its 200-day simple moving average is $81.58.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is 58.26%.

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.