Franklin Resources Inc. cut its position in shares of Colgate-Palmolive (NYSE:CL) by 0.1% in the fourth quarter, HoldingsChannel reports. The firm owned 4,619,532 shares of the company’s stock after selling 3,300 shares during the period. Franklin Resources Inc.’s holdings in Colgate-Palmolive were worth $348,543,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Vanguard Group Inc. increased its holdings in shares of Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock valued at $5,031,602,000 after acquiring an additional 1,621,392 shares during the period. BlackRock Inc. increased its holdings in shares of Colgate-Palmolive by 1.4% in the 4th quarter. BlackRock Inc. now owns 52,360,691 shares of the company’s stock valued at $3,950,614,000 after acquiring an additional 711,972 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock valued at $723,020,000 after acquiring an additional 2,903,800 shares during the period. Geode Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 8,975,479 shares of the company’s stock valued at $675,751,000 after acquiring an additional 188,455 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Colgate-Palmolive by 25.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock valued at $508,111,000 after acquiring an additional 1,385,946 shares during the period. 72.91% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive (CL) opened at $71.24 on Friday. Colgate-Palmolive has a one year low of $68.19 and a one year high of $77.91. The company has a debt-to-equity ratio of 27.02, a quick ratio of 1.00 and a current ratio of 1.36. The firm has a market capitalization of $62,358.30, a price-to-earnings ratio of 31.25, a P/E/G ratio of 2.64 and a beta of 0.79.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 20th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.36%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 19th. Colgate-Palmolive’s payout ratio is 70.18%.
A number of research analysts have recently issued reports on the company. Citigroup lifted their price target on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 30th. Jefferies Group reiterated a “hold” rating and issued a $79.00 price target on shares of Colgate-Palmolive in a report on Friday, January 26th. Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, January 16th. Finally, Macquarie upgraded Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price target on the stock in a report on Tuesday, December 19th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $77.91.
In other Colgate-Palmolive news, CTO Patricia Verduin sold 1,572 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.17, for a total transaction of $110,307.24. Following the sale, the chief technology officer now owns 50,675 shares in the company, valued at approximately $3,555,864.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dennis J. Hickey sold 5,651 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.18, for a total value of $396,587.18. Following the sale, the chief financial officer now owns 413,221 shares in the company, valued at approximately $28,999,849.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 463,082 shares of company stock worth $32,983,130. Company insiders own 1.02% of the company’s stock.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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