Van ECK Associates Corp Has $3.77 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Van ECK Associates Corp decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.5% in the 4th quarter, HoldingsChannel reports. The firm owned 47,240 shares of the company’s stock after selling 2,247 shares during the period. Van ECK Associates Corp’s holdings in Colgate-Palmolive were worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in CL. OFI Invest Asset Management bought a new position in Colgate-Palmolive during the 3rd quarter worth $25,000. Avion Wealth increased its position in Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in Colgate-Palmolive during the 4th quarter worth $34,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Colgate-Palmolive by 142.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock worth $35,000 after buying an additional 291 shares during the period. Finally, West Branch Capital LLC increased its position in Colgate-Palmolive by 24.0% during the 4th quarter. West Branch Capital LLC now owns 682 shares of the company’s stock worth $54,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CL shares. Royal Bank of Canada increased their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Evercore ISI raised their price target on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Raymond James upgraded Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a research report on Monday, January 29th. Citigroup raised their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Barclays raised their price target on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.44.

Insider Buying and Selling

In related news, insider Jennifer Daniels sold 5,790 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $83.96, for a total value of $486,128.40. Following the transaction, the insider now directly owns 63,236 shares of the company’s stock, valued at $5,309,294.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, insider Jennifer Daniels sold 5,790 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $83.96, for a total value of $486,128.40. Following the transaction, the insider now directly owns 63,236 shares of the company’s stock, valued at $5,309,294.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 29,772 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.06, for a total value of $2,502,634.32. Following the completion of the transaction, the chief executive officer now directly owns 301,343 shares in the company, valued at $25,330,892.58. The disclosure for this sale can be found here. Insiders have sold a total of 159,048 shares of company stock valued at $13,336,846 over the last ninety days. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $92.88 on Monday. The business’s 50-day moving average price is $88.35 and its 200-day moving average price is $82.35. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $93.25. The firm has a market capitalization of $76.20 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 3.43 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.28 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive will post 3.52 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a $0.50 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s payout ratio is currently 63.29%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.