Nomura Asset Management Co. Ltd. Grows Stock Position in Colgate-Palmolive Company $CL

Nomura Asset Management Co. Ltd. increased its holdings in Colgate-Palmolive Company (NYSE:CL) by 14.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,006,621 shares of the company’s stock after buying an additional 126,573 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.12% of Colgate-Palmolive worth $79,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CBIZ Investment Advisory Services LLC lifted its holdings in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Maseco LLP purchased a new position in Colgate-Palmolive in the 4th quarter valued at about $27,000. Global Wealth Strategies & Associates lifted its holdings in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at about $32,000. Finally, Grove Bank & Trust lifted its holdings in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after purchasing an additional 263 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 1.5%

NYSE CL opened at $90.26 on Friday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company’s 50 day moving average price is $86.29 and its 200 day moving average price is $85.64. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The firm has a market capitalization of $72.22 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 4.68 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm posted $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were issued a $0.53 dividend. The ex-dividend date was Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Piper Sandler reduced their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $95.88.

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.