BI Asset Management Fondsmaeglerselskab A S Increases Holdings in Colgate-Palmolive (NYSE:CL)
BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 1,149.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,999 shares of the company’s stock after buying an additional 58,877 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Colgate-Palmolive were worth $4,247,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently modified their holdings of the stock. Advisory Alpha LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at $26,000. Peddock Capital Advisors LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth $34,000. Pacifica Partners Inc. bought a new position in shares of Colgate-Palmolive in the 4th quarter worth $36,000. West Bancorporation Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $38,000. Finally, Keebeck Wealth Management LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $39,000. Institutional investors own 74.79% of the company’s stock.
CL stock traded up $0.49 during midday trading on Friday, hitting $70.75. 3,427,409 shares of the stock traded hands, compared to its average volume of 4,410,119. The stock’s fifty day simple moving average is $69.93 and its 200-day simple moving average is $69.58. The firm has a market cap of $60.18 billion, a P/E ratio of 24.15, a PEG ratio of 4.62 and a beta of 0.60. Colgate-Palmolive has a 1-year low of $58.49 and a 1-year high of $77.41. The company has a debt-to-equity ratio of 21.51, a current ratio of 0.96 and a quick ratio of 0.66.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a $0.44 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 2.49%. The ex-dividend date was Friday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 62.19%.
In other Colgate-Palmolive news, VP Philip G. Shotts sold 666 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $75.61, for a total transaction of $50,356.26. Following the completion of the transaction, the vice president now directly owns 41,158 shares in the company, valued at $3,111,956.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ian M. Cook sold 17,750 shares of the stock in a transaction on Monday, March 30th. The shares were sold at an average price of $65.84, for a total transaction of $1,168,660.00. Following the transaction, the chairman now directly owns 856,042 shares in the company, valued at $56,361,805.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,132 shares of company stock worth $5,774,879. 0.78% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on CL. Morgan Stanley upped their target price on Colgate-Palmolive from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Stifel Nicolaus upped their price objective on shares of Colgate-Palmolive from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 4th. Evercore ISI reiterated a “buy” rating and issued a $80.00 target price on shares of Colgate-Palmolive in a research note on Monday, January 27th. Citigroup upped their price target on shares of Colgate-Palmolive from $71.00 to $78.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $69.00 to $91.00 in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $75.60.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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