PineStone Asset Management Inc. Grows Stake in Colgate-Palmolive (NYSE:CL)

PineStone Asset Management Inc. lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,078,521 shares of the company’s stock after purchasing an additional 79,817 shares during the period. Colgate-Palmolive accounts for 0.9% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 28th biggest holding. PineStone Asset Management Inc. owned approximately 0.13% of Colgate-Palmolive worth $98,048,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of CL. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $32,000. Hager Investment Management Services LLC bought a new stake in Colgate-Palmolive during the 4th quarter valued at $36,000. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the third quarter worth $42,000. Synergy Asset Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $49,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at $53,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 1.9 %

Shares of CL stock opened at $86.10 on Friday. The business has a 50-day moving average of $89.69 and a 200 day moving average of $96.48. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26. Colgate-Palmolive has a 1-year low of $83.20 and a 1-year high of $109.30. The stock has a market capitalization of $70.34 billion, a PE ratio of 24.46, a P/E/G ratio of 4.12 and a beta of 0.44.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the firm earned $0.87 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.73 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 56.82%.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. UBS Group cut their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. TD Cowen decreased their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $101.16.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.