Colgate-Palmolive Company $CL Shares Acquired by AIA Group Ltd

AIA Group Ltd grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 33.4% during the 1st quarter, Holdings Channel reports. The fund owned 26,275 shares of the company’s stock after purchasing an additional 6,576 shares during the period. AIA Group Ltd’s holdings in Colgate-Palmolive were worth $2,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Colgate-Palmolive by 1.2% during 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 raised 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 valued at $1,754,657,000 after acquiring an additional 304,426 shares in the last quarter. Morgan Stanley grew its stake in shares of Colgate-Palmolive by 1.7% during the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after purchasing an additional 323,367 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares during the period. Finally, Norges Bank purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at approximately $861,670,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CL. Bank of America lowered their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Barclays upped their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $97.41.

Colgate-Palmolive Stock Down 0.2%

NYSE CL opened at $92.84 on Monday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a market cap of $74.29 billion, a P/E ratio of 36.12, a P/E/G ratio of 4.90 and a beta of 0.33. The business has a fifty day moving average price of $90.46 and a 200 day moving average price of $88.60. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02.

Colgate-Palmolive (NYSE:CL) last issued its 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. The business had revenue of $5.32 billion during 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 company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. Research analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared 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 is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Colgate-Palmolive 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.