Overbrook Management Corp Acquires Shares of 2,940 Colgate-Palmolive (NYSE:CL)

Overbrook Management Corp acquired a new stake in Colgate-Palmolive (NYSE:CL) during the fourth quarter, Holdings Channel.com reports. The fund acquired 2,940 shares of the company’s stock, valued at approximately $234,000.

A number of other large investors have also recently made changes to their positions in the business. Morgan Stanley lifted its stake in shares of Colgate-Palmolive by 3.2% in the third quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock valued at $1,195,785,000 after buying an additional 514,559 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Colgate-Palmolive by 3.3% in the third quarter. Northern Trust Corp now owns 9,452,931 shares of the company’s stock valued at $672,198,000 after purchasing an additional 305,862 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Colgate-Palmolive by 2.0% in the third quarter. American Century Companies Inc. now owns 6,590,405 shares of the company’s stock valued at $468,644,000 after purchasing an additional 127,805 shares during the last quarter. FMR LLC raised its holdings in shares of Colgate-Palmolive by 27.3% in the third quarter. FMR LLC now owns 5,597,742 shares of the company’s stock valued at $398,055,000 after purchasing an additional 1,199,660 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Colgate-Palmolive by 10.1% in the third quarter. Nordea Investment Management AB now owns 5,455,384 shares of the company’s stock valued at $390,005,000 after purchasing an additional 500,916 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

CL opened at $90.99 on Friday. The company has a market capitalization of $74.79 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 3.35 and a beta of 0.42. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. The firm has a 50-day moving average price of $87.66 and a 200-day moving average price of $81.46. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $92.25.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the business earned $0.73 earnings per share. Colgate-Palmolive’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive will post 3.5 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed 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 is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is 71.94%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the completion of the sale, the insider now directly owns 57,948 shares in the company, valued at $4,863,575.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now directly owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total transaction of $233,220.00. Following the transaction, the director now directly owns 19,272 shares in the company, valued at $1,628,484. The disclosure for this sale can be found here. Insiders sold a total of 232,371 shares of company stock worth $19,505,099 over the last three months. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on CL shares. Raymond James upgraded shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 target price for the company in a report on Monday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Barclays increased their target price on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Citigroup raised their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Colgate-Palmolive 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.