Resona Asset Management Co. Ltd. Boosts Stake in Colgate-Palmolive Company $CL

Resona Asset Management Co. Ltd. grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 359,539 shares of the company’s stock after buying an additional 31,076 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $32,548,000 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. Brighton Jones LLC boosted its stake in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after buying an additional 8,515 shares during the period. Envestnet Asset Management Inc. raised its holdings in Colgate-Palmolive by 24.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 675,584 shares of the company’s stock valued at $63,302,000 after acquiring an additional 133,327 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at $205,000. Finally, Personal CFO Solutions LLC acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $285,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CL. Barclays cut their price target on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Citigroup cut their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Monday. Morgan Stanley lowered their price target on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. Finally, Bank of America reduced their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Stock Up 0.4%

Shares of Colgate-Palmolive stock opened at $77.25 on Friday. The firm has a market cap of $62.44 billion, a P/E ratio of 21.70, a P/E/G ratio of 4.44 and a beta of 0.35. The business has a 50-day moving average price of $79.84 and a 200 day moving average price of $85.88. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is 58.26%.

Colgate-Palmolive Company Profile

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.