DNB Asset Management AS Has $60.38 Million Holdings in Colgate-Palmolive Company $CL

DNB Asset Management AS lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 17.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 755,338 shares of the company’s stock after selling 164,495 shares during the period. DNB Asset Management AS owned about 0.09% of Colgate-Palmolive worth $60,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Interchange Capital Partners LLC lifted its stake in Colgate-Palmolive by 32.7% in the 3rd quarter. Interchange Capital Partners LLC now owns 3,302 shares of the company’s stock valued at $264,000 after purchasing an additional 814 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Colgate-Palmolive by 5.7% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,724,756 shares of the company’s stock worth $137,877,000 after buying an additional 93,730 shares in the last quarter. Citizens Business Bank lifted its stake in shares of Colgate-Palmolive by 97.7% in the 3rd quarter. Citizens Business Bank now owns 57,912 shares of the company’s stock valued at $4,629,000 after acquiring an additional 28,615 shares during the last quarter. AlphaCore Capital LLC boosted its holdings in shares of Colgate-Palmolive by 13.0% during the 3rd quarter. AlphaCore Capital LLC now owns 9,610 shares of the company’s stock valued at $768,000 after acquiring an additional 1,104 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Colgate-Palmolive during the 3rd quarter worth $1,733,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CL. Bank of America increased their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $100.00 target price on shares of Colgate-Palmolive in a report on Friday, February 20th. TD Cowen reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Sunday, February 1st. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive Trading Up 0.9%

CL opened at $97.50 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a fifty day moving average of $87.08 and a 200-day moving average of $82.63. The stock has a market cap of $78.59 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 4.36 and a beta of 0.29. The company has a quick ratio of 0.27, a current ratio of 0.83 and a debt-to-equity ratio of 18.82.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.1%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 79.39%.

Insiders Place Their Bets

In other news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares in the company, valued at $1,306,757.53. The trade was a 53.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 184,683 shares of company stock valued at $17,486,693. Company insiders own 0.34% of the company’s stock.

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.