Sei Investments Co. Increases Holdings in Colgate-Palmolive Company $CL

Sei Investments Co. lifted its holdings in Colgate-Palmolive Company (NYSE:CL) by 39.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,241,878 shares of the company’s stock after acquiring an additional 352,476 shares during the period. Sei Investments Co.’s holdings in Colgate-Palmolive were worth $105,848,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $861,670,000. Bank of New York Mellon Corp grew its holdings in Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after buying an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings 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 in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $236,682,000. Finally, Deutsche Bank AG lifted its holdings in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CL shares. Royal Bank Of Canada restated an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. UBS Group boosted their price target on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $89.98 on Friday. The firm has a fifty day simple moving average of $90.72 and a two-hundred day simple moving average of $88.95. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. 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 stock has a market capitalization of $72.00 billion, a P/E ratio of 35.01, a PEG ratio of 4.83 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company earned $0.91 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s payout ratio 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.