Deutsche Bank AG lifted its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,922,994 shares of the company's stock after buying an additional 1,816,865 shares during the period. Deutsche Bank AG owned approximately 0.85% of Colgate-Palmolive worth $629,369,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC increased its stake in Colgate-Palmolive by 0.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock valued at $3,526,000 after purchasing an additional 117 shares in the last quarter. Commonwealth Financial Services LLC grew its position in shares of Colgate-Palmolive by 4.5% in the 4th quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company's stock valued at $247,000 after purchasing an additional 118 shares during the period. Wescott Financial Advisory Group LLC raised its holdings in shares of Colgate-Palmolive by 3.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock worth $320,000 after acquiring an additional 119 shares during the period. D Orazio & Associates Inc. boosted its position in shares of Colgate-Palmolive by 4.2% during the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company's stock worth $271,000 after buying an additional 120 shares during the period. Finally, Lantz Financial LLC boosted its position in Colgate-Palmolive by 0.6% during the 4th quarter. Lantz Financial LLC now owns 20,140 shares of the company's stock worth $1,831,000 after acquiring an additional 122 shares during 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 analysts have recently commented on CL shares. Stifel Nicolaus cut their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. StockNews.com cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Barclays dropped their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $102.39.
Read Our Latest Analysis on Colgate-Palmolive
Colgate-Palmolive Price Performance
NYSE:CL traded down $1.26 during trading hours on Tuesday, hitting $87.88. The company's stock had a trading volume of 3,002,409 shares, compared to its average volume of 4,630,711. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The company has a market capitalization of $71.22 billion, a P/E ratio of 24.97, a PEG ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The stock has a fifty day simple moving average of $92.16 and a 200-day simple moving average of $91.43.
Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company's revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.
Colgate-Palmolive declared that its board has approved a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.
Colgate-Palmolive Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. Colgate-Palmolive's payout ratio is currently 58.76%.
Colgate-Palmolive Profile
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Free Report)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.
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