Cornerstone Planning LLC Purchases New Position in Colgate-Palmolive Company $CL

Cornerstone Planning LLC purchased a new stake in Colgate-Palmolive Company (NYSE:CL) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 18,158 shares of the company’s stock, valued at approximately $1,442,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $861,670,000. Northwestern Mutual Wealth Management Co. raised its holdings in Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. acquired a new position in Colgate-Palmolive in the 4th quarter worth about $236,682,000. Deutsche Bank AG boosted its position in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Colgate-Palmolive by 47.4% in the fourth quarter. Franklin Resources Inc. now owns 6,044,168 shares of the company’s stock valued at $477,610,000 after purchasing an additional 1,942,946 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. UBS Group lifted their price target on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Barclays upped their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Price Performance

NYSE:CL opened at $89.74 on Friday. The stock has a 50 day moving average of $87.40 and a two-hundred day moving average of $86.60. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The firm has a market cap of $71.81 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 4.72 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. On average, analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Colgate-Palmolive Profile

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.