Destination Wealth Management Has $42.30 Million Stock Position in Colgate-Palmolive Company $CL

Destination Wealth Management increased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.4% during the fourth quarter, HoldingsChannel reports. The fund owned 535,282 shares of the company’s stock after buying an additional 7,183 shares during the quarter. Destination Wealth Management’s holdings in Colgate-Palmolive were worth $42,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas grew its position in Colgate-Palmolive by 35.3% during the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after acquiring an additional 122,634 shares during the last quarter. Citigroup Inc. grew its position in Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after acquiring an additional 409,710 shares during the last quarter. GAMMA Investing LLC grew its position in Colgate-Palmolive by 114.2% during the 4th quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock worth $1,843,000 after acquiring an additional 12,437 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Colgate-Palmolive by 217.0% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 40,605 shares of the company’s stock valued at $3,246,000 after buying an additional 27,796 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $1,135,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.0%

CL stock opened at $89.40 on Friday. The stock’s 50 day simple moving average is $86.85 and its 200 day simple moving average is $86.25. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market cap of $71.54 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 4.72 and a beta of 0.33.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a research report on Thursday. They issued a “market perform” rating and a $96.00 price target on the stock. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

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.