Colgate-Palmolive (NYSE:CL) Shares Sold by DNB Asset Management AS

DNB Asset Management AS cut its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 431,007 shares of the company’s stock after selling 14,816 shares during the period. DNB Asset Management AS owned approximately 0.05% of Colgate-Palmolive worth $33,959,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accurate Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $27,000. Hallmark Capital Management Inc. boosted its position in shares of Colgate-Palmolive by 158.2% during the third quarter. Hallmark Capital Management Inc. now owns 408 shares of the company’s stock worth $29,000 after buying an additional 250 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Colgate-Palmolive during the third quarter worth approximately $35,000. Norway Savings Bank lifted its position in Colgate-Palmolive by 57.8% in the third quarter. Norway Savings Bank now owns 546 shares of the company’s stock worth $38,000 after purchasing an additional 200 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in Colgate-Palmolive in the third quarter worth approximately $42,000. 77.63% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 1.0 %

NYSE:CL traded down $0.75 during trading hours on Friday, hitting $72.20. 9,106,081 shares of the stock traded hands, compared to its average volume of 3,825,939. The firm has a 50 day moving average price of $74.18 and a 200 day moving average price of $75.04. The company has a current ratio of 1.28, a quick ratio of 0.76 and a debt-to-equity ratio of 10.84. Colgate-Palmolive has a fifty-two week low of $67.84 and a fifty-two week high of $83.81. The firm has a market cap of $59.95 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 3.79 and a beta of 0.48.

Colgate-Palmolive (NYSE:CL – Get Rating) last announced its earnings results on Friday, January 27th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Colgate-Palmolive had a net margin of 9.93% and a return on equity of 317.08%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same period in the previous year, the business earned $0.79 EPS. The company’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive will post 3.1 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 21st will be paid a dividend of $0.48 per share. 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 is Thursday, April 20th. Colgate-Palmolive’s payout ratio is 88.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CL shares. Citigroup started coverage on Colgate-Palmolive in a research report on Thursday, February 16th. They issued a “buy” rating and a $84.00 target price for the company. Wolfe Research started coverage on Colgate-Palmolive in a research report on Monday, November 21st. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft cut their target price on Colgate-Palmolive from $87.00 to $84.00 in a research report on Monday, January 30th. JPMorgan Chase & Co. upped 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. Finally, TheStreet downgraded Colgate-Palmolive from a “b” rating to a “c+” rating in a research report on Friday, January 27th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.09.

Colgate-Palmolive Company Profile

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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.