Principal Financial Group Inc. Grows Stock Position in Colgate-Palmolive Company $CL

Principal Financial Group Inc. boosted its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,009,014 shares of the company’s stock after buying an additional 32,721 shares during the period. Principal Financial Group Inc.’s holdings in Colgate-Palmolive were worth $85,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC grew its holdings in Colgate-Palmolive by 86.7% in the fourth 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 during the period. TD Capital Management LLC increased its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management raised its stake in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CL shares. Citigroup boosted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group increased their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $97.41.

Colgate-Palmolive Price Performance

CL opened at $94.02 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a 50 day moving average of $90.35 and a two-hundred day moving average of $88.51. The company has a market cap of $75.24 billion, a P/E ratio of 36.58, a P/E/G ratio of 4.82 and a beta of 0.33.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Colgate-Palmolive Company 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.