Cornerstone Advisors Inc. increased its holdings in Colgate-Palmolive (NYSE:CL) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 5,056 shares of the company’s stock after acquiring an additional 205 shares during the period. Cornerstone Advisors Inc.’s holdings in Colgate-Palmolive were worth $301,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CL. Curbstone Financial Management Corp raised its holdings in Colgate-Palmolive by 1.2% during the 4th quarter. Curbstone Financial Management Corp now owns 16,870 shares of the company’s stock valued at $1,093,000 after buying an additional 200 shares during the last quarter. Stock Yards Bank & Trust Co. raised its holdings in Colgate-Palmolive by 3.3% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 9,388 shares of the company’s stock valued at $558,000 after buying an additional 300 shares during the last quarter. Addenda Capital Inc. raised its holdings in Colgate-Palmolive by 2.4% in the 4th quarter. Addenda Capital Inc. now owns 14,350 shares of the company’s stock worth $855,000 after purchasing an additional 331 shares in the last quarter. Vision Capital Management Inc. raised its holdings in Colgate-Palmolive by 2.1% in the 4th quarter. Vision Capital Management Inc. now owns 16,495 shares of the company’s stock worth $982,000 after purchasing an additional 340 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its holdings in Colgate-Palmolive by 15.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,830 shares of the company’s stock worth $190,000 after purchasing an additional 375 shares in the last quarter. 74.59% of the stock is owned by institutional investors.
Several brokerages have commented on CL. Atlantic Securities began coverage on shares of Colgate-Palmolive in a report on Thursday, September 20th. They issued a “neutral” rating and a $71.00 price objective for the company. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 11th. SunTrust Banks lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $80.00 to $65.00 in a research note on Friday, October 26th. UBS Group set a $71.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Finally, Wells Fargo & Co decreased their price target on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating for the company in a research note on Wednesday, October 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $66.79.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm posted $0.73 EPS. Colgate-Palmolive’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Colgate-Palmolive will post 2.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Wednesday, January 23rd will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, January 22nd. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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