Mackenzie Financial Corp grew its holdings in Colgate-Palmolive (NYSE:CL) by 17.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 625,758 shares of the company’s stock after acquiring an additional 92,567 shares during the period. Mackenzie Financial Corp’s holdings in Colgate-Palmolive were worth $45,586,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CL. Renaissance Technologies LLC increased its stake in shares of Colgate-Palmolive by 42.4% in the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after purchasing an additional 2,903,800 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Colgate-Palmolive by 243.0% in the third quarter. APG Asset Management N.V. now owns 4,070,784 shares of the company’s stock worth $296,557,000 after purchasing an additional 2,884,100 shares in the last quarter. Harding Loevner LP increased its stake in shares of Colgate-Palmolive by 92.0% in the third quarter. Harding Loevner LP now owns 4,742,752 shares of the company’s stock worth $176,329,000 after purchasing an additional 2,272,675 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Colgate-Palmolive by 35.8% in the third quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock worth $483,837,000 after purchasing an additional 1,750,417 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Colgate-Palmolive by 2.4% in the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after purchasing an additional 1,621,392 shares in the last quarter. 72.86% of the stock is owned by hedge funds and other institutional investors.
CL has been the subject of several research analyst reports. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, October 23rd. Deutsche Bank initiated coverage on shares of Colgate-Palmolive in a research note on Wednesday, December 13th. They set a “hold” rating and a $75.00 target price for the company. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $75.00 to $84.00 in a research note on Monday, September 25th. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Finally, Stifel Nicolaus set a $73.00 target price on shares of Colgate-Palmolive and gave the company a “hold” rating in a research note on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $76.51.
Colgate-Palmolive (NYSE:CL) opened at $74.62 on Monday. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27. The company has a market cap of $65,524.21, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 3.15 and a beta of 0.80. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the company posted $0.73 EPS. The business’s revenue was up 2.8% on a year-over-year basis. sell-side analysts anticipate that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. Colgate-Palmolive’s payout ratio is currently 61.78%.
In other news, insider Jennifer Daniels sold 902 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of the sale, the insider now owns 37,788 shares in the company, valued at approximately $2,865,086.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Mukul Deoras sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $73.28, for a total transaction of $549,600.00. Following the completion of the sale, the chief marketing officer now owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The disclosure for this sale can be found here. Insiders sold a total of 181,950 shares of company stock valued at $13,237,385 over the last three months. Corporate insiders own 1.02% of the company’s stock.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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