Colgate-Palmolive (NYSE:CL) Stake Lessened by UMB Bank n.a.

UMB Bank n.a. lessened its stake in Colgate-Palmolive (NYSE:CLFree Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,905 shares of the company’s stock after selling 1,468 shares during the period. UMB Bank n.a.’s holdings in Colgate-Palmolive were worth $3,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CL. Geode Capital Management LLC grew its position in shares of Colgate-Palmolive by 0.6% during the first quarter. Geode Capital Management LLC now owns 17,457,294 shares of the company’s stock worth $1,309,583,000 after acquiring an additional 112,177 shares during the last quarter. Morgan Stanley grew its position in shares of Colgate-Palmolive by 3.2% during the third quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock worth $1,195,785,000 after acquiring an additional 514,559 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Colgate-Palmolive by 90,253.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,974,451 shares of the company’s stock worth $1,258,627,000 after acquiring an additional 15,956,771 shares during the last quarter. Northern Trust Corp lifted its holdings in Colgate-Palmolive by 0.5% in the first quarter. Northern Trust Corp now owns 10,470,409 shares of the company’s stock worth $793,971,000 after purchasing an additional 50,040 shares during the period. Finally, Norges Bank acquired a new stake in Colgate-Palmolive in the fourth quarter worth about $644,715,000. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of several research analyst reports. Raymond James raised shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a report on Monday, January 29th. StockNews.com downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group initiated coverage on shares of Colgate-Palmolive in a report on Friday, March 1st. They issued a “buy” rating and a $93.00 price objective for the company. UBS Group upped their price objective on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.31.

Get Our Latest Research Report on CL

Colgate-Palmolive Stock Performance

Shares of CL opened at $89.10 on Wednesday. Colgate-Palmolive has a one year low of $67.62 and a one year high of $90.37. The company has a 50-day moving average of $86.23 and a two-hundred day moving average of $79.56. The stock has a market cap of $73.24 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 3.39 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71.

Colgate-Palmolive (NYSE:CLGet Free Report) last announced its earnings results on Friday, January 26th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.77 earnings per share. On average, equities research analysts expect that Colgate-Palmolive will post 3.49 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.24%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is 69.06%.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 50,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,179 shares of the company’s stock, valued at $22,797,983.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Noel R. Wallace sold 50,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,179 shares of the company’s stock, valued at $22,797,983.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total transaction of $5,891,020.56. Following the transaction, the chief executive officer now directly owns 286,881 shares in the company, valued at approximately $24,161,117.82. The disclosure for this sale can be found here. Insiders sold 232,371 shares of company stock valued at $19,505,099 over the last three months. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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