PNC Financial Services Group Inc. Decreases Stock Holdings in Colgate-Palmolive Company $CL

PNC Financial Services Group Inc. decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 890,391 shares of the company’s stock after selling 62,956 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Colgate-Palmolive were worth $70,359,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Maseco LLP purchased a new position in Colgate-Palmolive in the 4th quarter worth about $27,000. Copia Wealth Management purchased a new position in Colgate-Palmolive in the 3rd quarter worth about $29,000. Cloud Capital Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth about $30,000. Global Wealth Strategies & Associates raised its position in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after buying an additional 300 shares during the last quarter. Finally, Camelot Portfolios LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. UBS Group upped their price target on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Price Performance

NYSE CL opened at $90.48 on Friday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm has a market capitalization of $72.59 billion, a P/E ratio of 35.21, a PEG ratio of 4.69 and a beta of 0.31. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The company has a 50-day moving average price of $86.08 and a 200-day moving average price of $85.11.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were paid a dividend of $0.53 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

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.