Panagora Asset Management Inc. Boosts Holdings in Colgate-Palmolive Company $CL

Panagora Asset Management Inc. raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 51.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 336,831 shares of the company’s stock after purchasing an additional 114,789 shares during the quarter. Panagora Asset Management Inc.’s holdings in Colgate-Palmolive were worth $26,616,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after acquiring an additional 1,026,985 shares during the period. Geode Capital Management LLC raised its position in shares of Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after acquiring an additional 304,426 shares during the period. Morgan Stanley raised its position in shares of Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after acquiring an additional 323,367 shares during the period. Norges Bank acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $861,670,000. Finally, Deutsche Bank AG raised its position 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 acquiring an additional 2,746,920 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 1.3%

CL stock opened at $90.59 on Tuesday. The company has a market cap of $72.49 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.72 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The firm has a 50-day moving average of $86.96 and a two-hundred day moving average of $86.38.

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

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Analyst Ratings Changes

A number of research analysts have weighed in on CL shares. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Barclays upped their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Company Profile

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.