Allstate Corp Purchases 29,108 Shares of Colgate-Palmolive Company $CL

Allstate Corp lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 104.1% in the 4th quarter, Holdings Channel reports. The fund owned 57,058 shares of the company’s stock after buying an additional 29,108 shares during the quarter. Allstate Corp’s holdings in Colgate-Palmolive were worth $4,509,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CL. Vanguard Group Inc. lifted its holdings in Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares in the last quarter. Invesco Ltd. lifted its holdings in Colgate-Palmolive by 13.1% during the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock worth $676,931,000 after purchasing an additional 978,943 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock valued at $625,758,000 after acquiring an additional 29,876 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Colgate-Palmolive by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock valued at $517,167,000 after acquiring an additional 314,584 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $90.16 on Wednesday. The stock has a market cap of $72.34 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 4.71 and a beta of 0.31. 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 Company has a 1-year low of $74.54 and a 1-year high of $99.33. The stock’s 50-day moving average is $86.19 and its 200 day moving average is $85.41.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the firm posted $0.91 EPS. Colgate-Palmolive’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group raised their price target on Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $99.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Company 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.