Employees Provident Fund Board Invests $21.11 Million in Colgate-Palmolive Company $CL

Employees Provident Fund Board bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 267,100 shares of the company’s stock, valued at approximately $21,106,000.

Several other institutional investors have also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the period. TD Capital Management LLC grew its stake in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management increased its stake in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth $26,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Bank of America decreased their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Up 0.3%

NYSE CL opened at $89.74 on Friday. The stock’s 50 day simple moving average is $87.40 and its 200 day simple moving average is $86.60. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The firm has a market cap of $71.81 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 4.72 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. 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.