SVB Wealth LLC Invests $2.78 Million in Colgate-Palmolive (NYSE:CL)

SVB Wealth LLC acquired a new position in Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,601 shares of the company’s stock, valued at approximately $2,782,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after acquiring an additional 1,784,411 shares during the period. Geode Capital Management LLC lifted its holdings in Colgate-Palmolive by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock worth $2,095,325,000 after purchasing an additional 552,949 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Colgate-Palmolive by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after purchasing an additional 557,492 shares during the period. Barclays PLC grew its holdings in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares in the last quarter. Finally, FMR LLC raised its position in shares of Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays dropped their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $101.61.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $91.27 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company has a market capitalization of $74.07 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 4.20 and a beta of 0.44. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The firm’s 50-day moving average is $88.74 and its 200 day moving average is $95.48.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the firm earned $0.87 EPS. Research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, January 21st. Colgate-Palmolive’s payout ratio is presently 56.82%.

Colgate-Palmolive Company Profile

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.