Fosun International Ltd Raises Position in Colgate-Palmolive (NYSE:CL)

Fosun International Ltd grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 90.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,460 shares of the company’s stock after purchasing an additional 12,110 shares during the period. Fosun International Ltd’s holdings in Colgate-Palmolive were worth $1,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Braun Bostich & Associates Inc. lifted its holdings in shares of Colgate-Palmolive by 9.2% during the 1st quarter. Braun Bostich & Associates Inc. now owns 7,662 shares of the company’s stock valued at $502,000 after purchasing an additional 646 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in shares of Colgate-Palmolive by 6.2% in the 1st quarter. Cornerstone Wealth Group LLC now owns 4,875 shares of the company’s stock valued at $323,000 after acquiring an additional 283 shares during the period. Toroso Investments LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at $223,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Colgate-Palmolive by 4.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 48,813 shares of the company’s stock valued at $3,239,000 after acquiring an additional 2,129 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of Colgate-Palmolive by 13.8% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 91,203 shares of the company’s stock valued at $6,052,000 after acquiring an additional 11,050 shares during the period. Hedge funds and other institutional investors own 74.79% of the company’s stock.

Shares of NYSE:CL traded up $0.46 during trading on Friday, reaching $70.72. 1,806,587 shares of the company’s stock traded hands, compared to its average volume of 4,353,614. The firm has a market cap of $60.18 billion, a PE ratio of 23.98, a P/E/G ratio of 4.63 and a beta of 0.60. Colgate-Palmolive has a fifty-two week low of $58.49 and a fifty-two week high of $77.41. The company has a 50-day simple moving average of $69.85 and a 200-day simple moving average of $69.57. The company has a quick ratio of 0.66, a current ratio of 0.96 and a debt-to-equity ratio of 21.51.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.07 billion. Colgate-Palmolive had a net margin of 15.86% and a return on equity of 942.99%. Colgate-Palmolive’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.67 EPS. On average, equities research analysts forecast that Colgate-Palmolive will post 2.87 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were paid a $0.44 dividend. The ex-dividend date was Friday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 2.49%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 62.19%.

In related news, VP Philip G. Shotts sold 666 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $75.61, for a total value of $50,356.26. Following the transaction, the vice president now directly owns 41,158 shares of the company’s stock, valued at approximately $3,111,956.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel B. Marsili sold 4,030 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $75.45, for a total transaction of $304,063.50. Following the completion of the transaction, the insider now directly owns 51,788 shares in the company, valued at $3,907,404.60. The disclosure for this sale can be found here. Insiders sold a total of 80,132 shares of company stock worth $5,774,879 over the last ninety days. 0.78% of the stock is currently owned by corporate insiders.

CL has been the topic of several analyst reports. SunTrust Banks increased their price target on Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Morgan Stanley increased their price target on Colgate-Palmolive from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Credit Suisse Group reaffirmed a “sell” rating and set a $67.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. TheStreet downgraded Colgate-Palmolive from a “b” rating to a “c+” rating in a research report on Friday, May 1st. Finally, Royal Bank of Canada raised Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $69.00 to $91.00 in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $75.60.

Colgate-Palmolive Profile

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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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