J. Safra Sarasin Holding AG Has $59.12 Million Stake in Colgate-Palmolive Company $CL

J. Safra Sarasin Holding AG raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 0.8% during the third quarter, HoldingsChannel.com reports. The fund owned 739,508 shares of the company’s stock after buying an additional 6,209 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Colgate-Palmolive were worth $59,118,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares in the last quarter. Norges Bank acquired a new position in Colgate-Palmolive in the second quarter valued at approximately $960,390,000. Invesco Ltd. grew its position in shares of Colgate-Palmolive by 9.1% during the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after buying an additional 621,841 shares during the period. Acadian Asset Management LLC increased its stake in shares of Colgate-Palmolive by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after acquiring an additional 1,839,853 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Colgate-Palmolive by 242.3% during the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after acquiring an additional 3,768,784 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL opened at $85.24 on Tuesday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. The stock has a 50 day moving average price of $80.20 and a two-hundred day moving average price of $81.39. The firm has a market capitalization of $68.71 billion, a P/E ratio of 23.88, a P/E/G ratio of 5.85 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last announced its 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 company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.Colgate-Palmolive’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be issued a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CL shares. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $88.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Morgan Stanley reduced their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company set a $86.00 price target on Colgate-Palmolive and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Barclays set a $83.00 price target on Colgate-Palmolive in a report on Friday, January 16th. Finally, Evercore ISI decreased their price objective on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

About Colgate-Palmolive

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.