Arvest Investments Inc. Buys Shares of 6,285 Colgate-Palmolive Company $CL

Key Points

• Arvest Investments Inc. has acquired a new position in Colgate-Palmolive Company by purchasing 6,285 shares, valued at approximately $571,000.
• Institutional investors now own 80.41% of Colgate-Palmolive’s stock, indicating strong confidence among larger investment firms.
• Colgate-Palmolive recently reported an earnings per share of $0.92, surpassing analyst expectations, and announced a quarterly dividend of $0.52 per share.

Arvest Investments Inc. bought a new position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,285 shares of the company's stock, valued at approximately $571,000.

Several other large investors also recently modified their holdings of CL. Vanguard Group Inc. lifted its position in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock worth $7,660,749,000 after buying an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after buying an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after buying an additional 2,045,191 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Colgate-Palmolive by 3.7% during the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock worth $672,447,000 after buying an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Colgate-Palmolive by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company's stock worth $653,761,000 after buying an additional 177,833 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Barclays increased their target price 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. UBS Group dropped their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, Morgan Stanley dropped 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. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average target price of $98.00.

Colgate-Palmolive Stock Down 0.8%

Colgate-Palmolive stock traded down $0.64 during mid-day trading on Thursday, reaching $81.58. The stock had a trading volume of 2,413,625 shares, compared to its average volume of 5,168,007. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a fifty-two week low of $81.01 and a fifty-two week high of $104.49. The stock's 50-day simple moving average is $85.32 and its 200-day simple moving average is $89.37. The firm has a market capitalization of $65.94 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 4.24 and a beta of 0.35.

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 analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's payout ratio is presently 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.