Prudential PLC Trims Stake in Colgate-Palmolive Company $CL

Prudential PLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,050 shares of the company’s stock after selling 7,777 shares during the quarter. Prudential PLC’s holdings in Colgate-Palmolive were worth $8,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. Maseco LLP purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Global Wealth Strategies & Associates increased its position in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Finally, Grove Bank & Trust increased its position in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after buying an additional 263 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CL shares. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, 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. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Up 4.1%

Shares of CL opened at $88.61 on Friday. The stock has a 50 day moving average price of $86.49 and a 200 day moving average price of $85.93. The stock has a market capitalization of $70.91 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 4.42 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities research analysts forecast 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. Shareholders of record on Monday, April 20th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Colgate-Palmolive 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.