State of Alaska Department of Revenue reduced its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 236,475 shares of the company’s stock after selling 7,795 shares during the quarter. State of Alaska Department of Revenue’s holdings in Colgate-Palmolive were worth $18,631,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Colgate-Palmolive by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 78,638,269 shares of the company’s stock valued at $5,524,338,000 after acquiring an additional 882,517 shares in the last quarter. Third Point LLC raised its position in shares of Colgate-Palmolive by 481.9% during the 3rd quarter. Third Point LLC now owns 11,550,000 shares of the company’s stock valued at $811,388,000 after acquiring an additional 9,565,000 shares in the last quarter. Northern Trust Corp raised its position in shares of Colgate-Palmolive by 0.5% during the 1st quarter. Northern Trust Corp now owns 10,470,409 shares of the company’s stock valued at $793,971,000 after acquiring an additional 50,040 shares in the last quarter. Legal & General Group Plc raised its position in shares of Colgate-Palmolive by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 7,709,706 shares of the company’s stock valued at $617,858,000 after acquiring an additional 301,219 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Colgate-Palmolive by 151.6% during the 1st quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock valued at $431,381,000 after acquiring an additional 3,427,400 shares in the last quarter. 77.63% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on CL shares. TheStreet lowered Colgate-Palmolive from a “b” rating to a “c+” rating in a research report on Friday, January 27th. Wolfe Research started coverage on Colgate-Palmolive in a research report on Monday, November 21st. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Colgate-Palmolive from $87.00 to $84.00 in a research report on Monday, January 30th. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and set a $82.00 target price on the stock in a research report on Monday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.09.
Colgate-Palmolive Trading Down 1.0 %
Colgate-Palmolive (NYSE:CL – Get Rating) last released its quarterly earnings results on Friday, January 27th. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.58 billion. Colgate-Palmolive had a return on equity of 317.08% and a net margin of 9.93%. Colgate-Palmolive’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. Research analysts predict that Colgate-Palmolive will post 3.1 earnings per share for the current year.
Colgate-Palmolive Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 21st will be paid a $0.48 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, April 20th. Colgate-Palmolive’s dividend payout ratio is currently 88.26%.
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through the Oral, Personal and Home Care, and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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