Logan Capital Management Inc. Boosts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Logan Capital Management Inc. lifted its holdings in Colgate-Palmolive (NYSE:CLFree Report) by 31.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,294 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Logan Capital Management Inc.’s holdings in Colgate-Palmolive were worth $502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $731,843,000. Magellan Asset Management Ltd increased its position in shares of Colgate-Palmolive by 4,162.6% during the fourth quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after purchasing an additional 1,968,988 shares in the last quarter. FMR LLC grew its stake in Colgate-Palmolive by 27.3% during the 3rd quarter. FMR LLC now owns 5,597,742 shares of the company’s stock worth $398,055,000 after buying an additional 1,199,660 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $62,728,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Colgate-Palmolive by 92.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,436,054 shares of the company’s stock valued at $114,468,000 after purchasing an additional 688,733 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 0.0 %

Shares of CL stock opened at $93.90 on Tuesday. The stock’s fifty day moving average is $91.22 and its two-hundred day moving average is $85.80. The firm has a market capitalization of $77.04 billion, a P/E ratio of 29.72, a PEG ratio of 3.46 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $95.59.

Colgate-Palmolive (NYSE:CLGet Free Report) last released its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. During the same period last year, the company posted $0.73 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Research analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, April 19th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is currently 63.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CL shares. The Goldman Sachs Group began coverage on Colgate-Palmolive in a research note on Friday, March 1st. They set a “buy” rating and a $93.00 price target on the stock. Morgan Stanley raised their price target on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Wells Fargo & Company increased their price target on Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Evercore ISI boosted their price objective on Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada raised their target price on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.94.

Get Our Latest Research Report on Colgate-Palmolive

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the sale, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

About Colgate-Palmolive

(Free Report)

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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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