Tokio Marine Asset Management Co. Ltd. decreased its holdings in Colgate-Palmolive (NYSE:CL) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,362 shares of the company’s stock after selling 609 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $557,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CL. Timber Creek Capital Management LLC raised its position in Colgate-Palmolive by 247.1% during the 4th quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock worth $28,000 after buying an additional 336 shares during the last quarter. BerganKDV Wealth Management LLC purchased a new position in Colgate-Palmolive during the 4th quarter worth $47,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Colgate-Palmolive by 46.2% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 950 shares of the company’s stock worth $57,000 after buying an additional 300 shares during the last quarter. Moody National Bank Trust Division purchased a new position in Colgate-Palmolive during the 4th quarter worth $94,000. Finally, Price Capital Management Inc. purchased a new position in Colgate-Palmolive during the 3rd quarter worth $121,000. Hedge funds and other institutional investors own 75.21% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Wells Fargo & Co cut their price target on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating for the company in a report on Wednesday, October 17th. Argus cut their price target on shares of Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Evercore ISI assumed coverage on shares of Colgate-Palmolive in a report on Thursday, January 10th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Morgan Stanley cut their price target on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $65.00.
In related news, Director John T. Cahill sold 5,780 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $64.46, for a total value of $372,578.80. Following the sale, the director now directly owns 27,820 shares of the company’s stock, valued at approximately $1,793,277.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.
NYSE CL traded down $0.26 during trading hours on Monday, reaching $65.43. The company’s stock had a trading volume of 1,173,706 shares, compared to its average volume of 4,418,505. The stock has a market cap of $56.97 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 4.24 and a beta of 0.78. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $72.61.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 25th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Colgate-Palmolive had a net margin of 15.44% and a return on equity of 25,268.29%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS. On average, analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Wednesday, January 23rd will be paid a $0.42 dividend. The ex-dividend date is Tuesday, January 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.57%. Colgate-Palmolive’s payout ratio is 56.57%.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
See Also: How dollar cost averaging works
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).