Seven Mile Advisory Invests $203,000 in Colgate-Palmolive (NYSE:CL)

Seven Mile Advisory bought a new position in shares of Colgate-Palmolive (NYSE:CL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,228 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Colgate-Palmolive during the fourth quarter worth about $912,375,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $348,718,000. AMF Tjanstepension AB lifted its position in shares of Colgate-Palmolive by 1,088.8% in the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock valued at $233,584,000 after acquiring an additional 2,353,268 shares in the last quarter. Barclays PLC lifted its holdings in Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. Finally, State Street Corp boosted its position in Colgate-Palmolive by 3.8% during 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 last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. Morgan Stanley dropped their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus reduced their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $102.06.

Colgate-Palmolive Trading Down 0.5 %

NYSE:CL opened at $92.73 on Monday. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The firm’s fifty day moving average is $89.69 and its 200-day moving average is $93.52. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The firm has a market cap of $75.25 billion, a P/E ratio of 26.34, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating 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 quarter last year, the firm posted $0.87 earnings per share. Equities analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.24%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s payout ratio is currently 59.09%.

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.