Destination Wealth Management Decreases Stock Position in Colgate-Palmolive (NYSE:CL)

Destination Wealth Management reduced its position in Colgate-Palmolive (NYSE:CL) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 498,672 shares of the company’s stock after selling 744 shares during the period. Colgate-Palmolive comprises approximately 1.4% of Destination Wealth Management’s holdings, making the stock its 24th largest position. Destination Wealth Management owned approximately 0.06% of Colgate-Palmolive worth $45,334,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after acquiring an additional 2,674,807 shares during the period. Barclays PLC grew its position in shares of 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 acquiring an additional 2,132,747 shares during the period. State Street Corp grew its position in shares of Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after acquiring an additional 1,784,411 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $132,405,000. Finally, Nordea Investment Management AB grew its position in shares of Colgate-Palmolive by 32.5% during the 4th quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company’s stock valued at $462,121,000 after acquiring an additional 1,247,731 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CL. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus dropped their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. TD Cowen dropped their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. UBS Group dropped their target price 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. Finally, 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 report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $101.61.

Colgate-Palmolive Price Performance

NYSE CL opened at $93.30 on Friday. 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 50 day moving average price is $88.74 and its 200-day moving average price is $95.26. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a market cap of $75.72 billion, a PE ratio of 26.51, a P/E/G ratio of 4.20 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 (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 in the prior year, the firm earned $0.87 EPS. Sell-side analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.14%. Colgate-Palmolive’s dividend payout ratio (DPR) is 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.