DNB Asset Management AS Increases Holdings in Colgate-Palmolive Company $CL

DNB Asset Management AS raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 21.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 918,682 shares of the company’s stock after buying an additional 163,344 shares during the quarter. DNB Asset Management AS’s holdings in Colgate-Palmolive were worth $72,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CL. Northwestern Mutual Wealth Management Co. raised its stake in Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after buying an additional 4,598,789 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after buying an additional 2,572,796 shares during the last quarter. Amundi raised its stake in Colgate-Palmolive by 41.6% during the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after buying an additional 1,850,412 shares during the last quarter. Two Sigma Investments LP raised its stake in Colgate-Palmolive by 360.9% during the 3rd quarter. Two Sigma Investments LP now owns 2,126,249 shares of the company’s stock valued at $169,972,000 after buying an additional 1,664,949 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Colgate-Palmolive by 3,896.0% during the 4th quarter. SG Americas Securities LLC now owns 1,189,005 shares of the company’s stock valued at $93,955,000 after acquiring an additional 1,159,250 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.7%

Shares of Colgate-Palmolive stock opened at $88.20 on Friday. The company has a market capitalization of $70.76 billion, a P/E ratio of 34.32, a P/E/G ratio of 4.60 and a beta of 0.31. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a fifty day moving average of $86.30 and a 200 day moving average of $84.68. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL) last issued 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. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.83 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a dividend of $0.53 per share. The ex-dividend date was Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective 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. Bank of America cut their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Jefferies Financial Group boosted their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Finally, Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

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.