Havemeyer Place LP Takes Position in Colgate-Palmolive Company $CL

Havemeyer Place LP bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the 4th quarter, Holdings Channel.com reports. The fund bought 7,968 shares of the company’s stock, valued at approximately $630,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Colgate-Palmolive in the 4th quarter valued at $861,670,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Amundi lifted its position in Colgate-Palmolive by 41.6% during the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after buying an additional 1,850,412 shares in the last quarter. Two Sigma Investments LP raised its holdings in Colgate-Palmolive by 360.9% during the third quarter. Two Sigma Investments LP now owns 2,126,249 shares of the company’s stock worth $169,972,000 after acquiring an additional 1,664,949 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Colgate-Palmolive by 3,896.0% during the 4th quarter. SG Americas Securities LLC now owns 1,189,005 shares of the company’s stock worth $93,955,000 after purchasing an additional 1,159,250 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CL has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Barclays raised their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $86.01 on Tuesday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company’s 50 day moving average price is $86.53 and its two-hundred day moving average price is $86.03. The firm has a market cap of $68.83 billion, a PE ratio of 33.47, a PEG ratio of 4.60 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Equities research analysts predict that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.5%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 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.