PensionDanmark Pensionsforsikringsaktieselskab Increases Stake in Colgate-Palmolive Company $CL

PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 8.0% during the 2nd quarter, Holdings Channel reports. The fund owned 280,937 shares of the company’s stock after buying an additional 20,878 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Colgate-Palmolive were worth $25,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after acquiring an additional 1,026,985 shares during the period. Geode Capital Management LLC lifted its position in Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares in the last quarter. Morgan Stanley grew its holdings in Colgate-Palmolive by 1.7% during the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after purchasing an additional 323,367 shares during the period. Bank of New York Mellon Corp grew its holdings in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares during the period. Finally, Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $861,670,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CL. TD Cowen lifted their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Monday. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Citigroup boosted their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Insider Activity at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $92.82 on Friday. The firm has a fifty day simple moving average of $91.07 and a two-hundred day simple moving average of $89.72. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.30, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The stock has a market capitalization of $74.00 billion, a P/E ratio of 36.83, a PEG ratio of 4.56 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is 84.13%.

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.