2,322,234 Shares in Colgate-Palmolive Company (NYSE:CL) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired a significant position in Colgate-Palmolive Company by purchasing 2,322,234 shares valued at approximately $217.6 million in the first quarter, representing 0.29% ownership.
• Colgate-Palmolive reported $0.92 earnings per share for the most recent quarter, surpassing estimates, along with revenues of $5.11 billion, marking a 1.0% annual increase.
• The company announced a quarterly dividend of $0.52 per share, equivalent to an annualized dividend yield of 2.5%, payable on August 15th to shareholders of record.

Nuveen LLC purchased a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,322,234 shares of the company's stock, valued at approximately $217,593,000. Nuveen LLC owned approximately 0.29% of Colgate-Palmolive as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. UBS Group decreased their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Morgan Stanley decreased their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Citigroup decreased their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $98.92.

Colgate-Palmolive Stock Up 0.4%

CL traded up $0.37 during trading on Friday, hitting $85.02. 4,150,397 shares of the company's stock traded hands, compared to its average volume of 4,861,582. The stock has a market capitalization of $68.71 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 4.41 and a beta of 0.35. 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 company's 50 day simple moving average is $88.21 and its two-hundred day simple moving average is $90.00. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid 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 2.4%. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

Colgate-Palmolive 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.