ABN Amro Investment Solutions Raises Holdings in Colgate-Palmolive Company $CL

ABN Amro Investment Solutions grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,942 shares of the company’s stock after buying an additional 10,264 shares during the quarter. ABN Amro Investment Solutions’ holdings in Colgate-Palmolive were worth $12,012,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after purchasing an additional 1,026,985 shares during the period. Geode Capital Management LLC grew 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 worth $1,754,657,000 after buying an additional 304,426 shares during the period. Morgan Stanley increased its holdings in Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after buying an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Colgate-Palmolive by 172.5% in 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 buying an additional 7,927,238 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $861,670,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the topic of several research analyst reports. Weiss Ratings raised Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. TD Cowen reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. UBS Group lifted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup upped their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Trading Up 1.3%

Shares of CL stock opened at $91.69 on Thursday. The firm has a 50-day moving average price of $90.70 and a 200 day moving average price of $88.86. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a market capitalization of $73.37 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 4.77 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. Research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

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.