Commerzbank Aktiengesellschaft FI Boosts Position in Colgate-Palmolive Company $CL

Commerzbank Aktiengesellschaft FI grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 73.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,420 shares of the company’s stock after acquiring an additional 20,583 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Colgate-Palmolive were worth $3,871,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after purchasing an additional 993,432 shares during the period. Norges Bank purchased a new stake in Colgate-Palmolive during the second quarter worth $960,390,000. Invesco Ltd. grew its position in Colgate-Palmolive by 9.1% during the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after buying an additional 621,841 shares during the period. Acadian Asset Management LLC increased its holdings in Colgate-Palmolive by 42.9% in the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after buying an additional 1,839,853 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after acquiring an additional 3,768,784 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company set a $86.00 price objective on Colgate-Palmolive and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday. TD Cowen reduced their price objective on shares of Colgate-Palmolive from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Jefferies Financial Group set a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, December 16th. Finally, Royal Bank Of Canada raised shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research note on Tuesday, December 9th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $86.67 on Friday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The stock has a market cap of $69.86 billion, a P/E ratio of 24.28, a PEG ratio of 5.87 and a beta of 0.30. The company has a 50-day moving average price of $80.07 and a 200 day moving average price of $81.50. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

About Colgate-Palmolive

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.