Toronto Dominion Bank grew its position in Colgate-Palmolive (NYSE:CL) by 17.2% in the first quarter, HoldingsChannel.com reports. The fund owned 646,481 shares of the company’s stock after buying an additional 94,771 shares during the period. Toronto Dominion Bank’s holdings in Colgate-Palmolive were worth $44,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc grew its holdings in Colgate-Palmolive by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock valued at $4,922,224,000 after buying an additional 734,860 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Colgate-Palmolive by 4.2% during the 4th quarter. Cornerstone Advisors Inc. now owns 5,056 shares of the company’s stock worth $301,000 after purchasing an additional 205 shares during the period. JGP Wealth Management LLC lifted its stake in shares of Colgate-Palmolive by 5.4% during the 4th quarter. JGP Wealth Management LLC now owns 43,001 shares of the company’s stock worth $2,559,000 after purchasing an additional 2,203 shares during the period. Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth $211,000. Finally, Oakbrook Investments LLC lifted its stake in shares of Colgate-Palmolive by 14.0% during the 4th quarter. Oakbrook Investments LLC now owns 394,449 shares of the company’s stock worth $23,478,000 after purchasing an additional 48,540 shares during the period. 75.95% of the stock is owned by institutional investors.
Shares of CL traded down $0.53 during trading hours on Friday, hitting $71.97. The stock had a trading volume of 2,764,157 shares, compared to its average volume of 3,203,457. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. The firm has a market capitalization of $62.24 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 4.75 and a beta of 0.81. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $73.10.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a $0.43 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Wednesday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.91%.
A number of research analysts have weighed in on CL shares. UBS Group increased their price target on Colgate-Palmolive from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, March 29th. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Wednesday, May 1st. ValuEngine raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Morgan Stanley increased their price target on Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Finally, Macquarie set a $57.00 price target on Colgate-Palmolive and gave the stock a “hold” rating in a research note on Tuesday, January 29th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $69.69.
In other news, SVP John J. Huston sold 1,512 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.29, for a total transaction of $100,230.48. Following the completion of the sale, the senior vice president now directly owns 75,180 shares in the company, valued at $4,983,682.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Henning I. Jakobsen sold 969 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total value of $64,331.91. Following the sale, the chief financial officer now owns 35,208 shares of the company’s stock, valued at $2,337,459.12. The disclosure for this sale can be found here. Insiders sold a total of 381,131 shares of company stock worth $26,771,200 over the last ninety days. Corporate insiders own 1.14% of the company’s stock.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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