1832 Asset Management L.P. Purchases 37,484 Shares of Colgate-Palmolive Company $CL

Key Points

• 1832 Asset Management L.P. increased its stake in Colgate-Palmolive by 403%, owning 46,785 shares worth approximately $4.38 million, marking a significant investment in the company during the first quarter.
• Colgate-Palmolive's recent earnings report showed an EPS of $0.92, exceeding estimates, with revenue reaching $5.11 billion, reflecting a 1% increase compared to the previous year.
• The company announced a quarterly dividend of $0.52, resulting in an annualized dividend yield of 2.4% and a payout ratio of 58.43%.

1832 Asset Management L.P. increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 403.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,785 shares of the company's stock after buying an additional 37,484 shares during the quarter. 1832 Asset Management L.P.'s holdings in Colgate-Palmolive were worth $4,384,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Westend Capital Management LLC lifted its position in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after buying an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $31,000. Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $34,000. Finally, Bernard Wealth Management Corp. bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $36,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 0.9%

Shares of CL traded up $0.78 during trading hours on Friday, hitting $84.20. 2,215,551 shares of the stock traded hands, compared to its average volume of 5,197,692. The business has a fifty day moving average of $87.23 and a 200-day moving average of $89.85. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market capitalization of $68.05 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 4.39 and a beta of 0.35. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the company earned $0.91 EPS. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Analysts Set New Price Targets

A number of research analysts have commented on CL shares. Morgan Stanley cut their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays upped their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.92.

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.