Employees Provident Fund Board Invests $21.11 Million in Colgate-Palmolive Company $CL

Employees Provident Fund Board acquired a new stake in Colgate-Palmolive Company (NYSE:CL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 267,100 shares of the company’s stock, valued at approximately $21,106,000.

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

Colgate-Palmolive Stock Performance

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 company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $87.40 and its 200 day simple moving average is $86.60. The stock has a market cap of $71.81 billion, a P/E ratio of 34.92, a P/E/G ratio of 4.72 and a beta of 0.33.

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

Colgate-Palmolive Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CL shares. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Bank of America lowered their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Royal Bank Of Canada restated an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.