Colgate-Palmolive (CL) is Diamant Asset Management Inc.’s 7th Largest Position
Diamant Asset Management Inc. trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 2.6% in the first quarter, Holdings Channel reports. The fund owned 44,190 shares of the company’s stock after selling 1,200 shares during the period. Colgate-Palmolive makes up 3.0% of Diamant Asset Management Inc.’s investment portfolio, making the stock its 7th biggest position. Diamant Asset Management Inc.’s holdings in Colgate-Palmolive were worth $3,029,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth $488,436,000. BlackRock Inc. increased its stake in shares of Colgate-Palmolive by 13.5% in the fourth quarter. BlackRock Inc. now owns 60,648,605 shares of the company’s stock worth $3,609,804,000 after buying an additional 7,236,342 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Colgate-Palmolive by 5,779.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,625,533 shares of the company’s stock worth $95,000 after buying an additional 5,529,852 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth $71,576,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Colgate-Palmolive by 405.4% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,283,928 shares of the company’s stock worth $76,419,000 after buying an additional 1,029,873 shares during the period. Hedge funds and other institutional investors own 75.99% of the company’s stock.
Shares of Colgate-Palmolive stock opened at $71.69 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. The firm has a market cap of $61.77 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 4.72 and a beta of 0.81. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $72.85.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.43 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, April 17th. Colgate-Palmolive’s payout ratio is presently 57.91%.
Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Monday. Macquarie lifted their target price on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Jefferies Financial Group lifted their target price on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a research note on Monday, April 29th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $62.00 to $70.00 in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $69.81.
In other Colgate-Palmolive news, CEO Ian M. Cook sold 22,634 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $66.31, for a total transaction of $1,500,860.54. Following the transaction, the chief executive officer now directly owns 1,162,793 shares of the company’s stock, valued at approximately $77,104,803.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen I. Sadove sold 8,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $71.55, for a total transaction of $572,400.00. Following the transaction, the director now directly owns 39,441 shares in the company, valued at $2,822,003.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,149 shares of company stock worth $17,203,908. Insiders own 1.14% of the company’s stock.
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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