Colgate-Palmolive Company $CL Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 256.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 104,417 shares of the company’s stock after purchasing an additional 75,146 shares during the period. Rakuten Investment Management Inc.’s holdings in Colgate-Palmolive were worth $8,321,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. L2 Asset Management LLC lifted its holdings in shares of Colgate-Palmolive by 6.9% in the fourth quarter. L2 Asset Management LLC now owns 4,063 shares of the company’s stock valued at $321,000 after buying an additional 263 shares during the period. Bluedoor Private Wealth LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $1,043,000. 71 West Capital Partners acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $254,000. LFG Wealth Partners LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $250,000. Finally, Sienna Gestion acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $1,507,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Bank of America decreased their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Finally, TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $90.56 on Wednesday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year 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. The company has a market capitalization of $72.47 billion, a price-to-earnings ratio of 35.24, a P/E/G ratio of 4.78 and a beta of 0.33. The stock’s fifty day simple moving average is $87.07 and its 200-day simple moving average is $86.45.

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

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 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.