Auto Owners Insurance Co Increases Stock Position in Colgate-Palmolive Company $CL

Auto Owners Insurance Co lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 7,802.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 442,512 shares of the company’s stock after acquiring an additional 436,912 shares during the period. Auto Owners Insurance Co’s holdings in Colgate-Palmolive were worth $3,497,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its position in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. TD Capital Management LLC grew its position in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management boosted its stake in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive in the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the topic of a number of research reports. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. UBS Group boosted their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Barclays boosted their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Up 0.3%

NYSE CL opened at $89.74 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The stock has a market capitalization of $71.81 billion, a PE ratio of 34.92, a PEG ratio of 4.72 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The business’s 50-day moving average is $87.40 and its 200 day moving average is $86.60.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS 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 business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company posted $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

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.