Sumitomo Life Insurance Co. Has $2.20 Million Holdings in Colgate-Palmolive Company $CL

Sumitomo Life Insurance Co. lifted its position in Colgate-Palmolive Company (NYSE:CL) by 75.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,243 shares of the company’s stock after buying an additional 10,444 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Colgate-Palmolive were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $29,000. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $37,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Colgate-Palmolive in the first quarter worth $37,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Citigroup dropped their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. UBS Group dropped their target price on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. The Goldman Sachs Group dropped their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Trading Up 0.8%

Shares of Colgate-Palmolive stock opened at $77.10 on Monday. The firm has a market capitalization of $62.32 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 4.44 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The company’s fifty day moving average price is $80.45 and its two-hundred day moving average price is $86.28. Colgate-Palmolive Company has a 52-week low of $74.62 and a 52-week high of $100.18.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.26%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.