Meiji Yasuda Asset Management Co Ltd. Sells 29,927 Shares of Colgate-Palmolive Company $CL

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 24.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 94,452 shares of the company’s stock after selling 29,927 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Colgate-Palmolive were worth $7,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Maseco LLP bought a new stake in shares of Colgate-Palmolive in the fourth quarter worth $27,000. Copia Wealth Management bought a new stake in shares of Colgate-Palmolive in the third quarter worth $29,000. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive in the third quarter worth $30,000. Global Wealth Strategies & Associates grew its stake in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock worth $32,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CL shares. Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Jefferies Financial Group boosted their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $90.48 on Friday. The stock has a market capitalization of $72.59 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 4.69 and a beta of 0.31. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock’s 50 day moving average price is $86.08 and its two-hundred day moving average price is $85.11. 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 posted its quarterly 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. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. On average, equities 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. Stockholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

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.