Abacus FCF Advisors LLC Buys 38,907 Shares of Colgate-Palmolive Company $CL

Key Points

• Abacus FCF Advisors LLC increased its stake in Colgate-Palmolive by 24.0%, acquiring an additional 38,907 shares to hold a total of 201,070 shares, valued at approximately $18.3 million.
• Colgate-Palmolive recently declared a quarterly dividend of $0.52, reflecting an annualized payout of $2.08 and a dividend yield of 2.6%.
• The company reported a Q2 EPS of $0.92, exceeding expectations, with a year-over-year revenue increase of 1.0% to $5.11 billion.

Abacus FCF Advisors LLC boosted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 24.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 201,070 shares of the company's stock after purchasing an additional 38,907 shares during the quarter. Colgate-Palmolive comprises approximately 2.6% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 11th largest holding. Abacus FCF Advisors LLC's holdings in Colgate-Palmolive were worth $18,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC increased its holdings in Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock worth $847,000 after purchasing an additional 110 shares in the last quarter. Aberdeen Wealth Management LLC increased its holdings in Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock worth $1,877,000 after purchasing an additional 125 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Colgate-Palmolive by 2.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company's stock worth $497,000 after purchasing an additional 129 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock worth $317,000 after purchasing an additional 130 shares in the last quarter. Finally, KFG Wealth Management LLC grew its holdings in shares of Colgate-Palmolive by 1.5% in the first quarter. KFG Wealth Management LLC now owns 8,835 shares of the company's stock valued at $828,000 after acquiring an additional 131 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays upped their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley dropped their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note 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 on the stock in a research report on Monday, August 4th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Finally, Citigroup dropped their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded up $0.74 during trading on Tuesday, hitting $80.10. The stock had a trading volume of 2,824,238 shares, compared to its average volume of 5,218,677. The firm has a market cap of $64.74 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 4.22 and a beta of 0.35. Colgate-Palmolive Company has a 12 month low of $78.76 and a 12 month high of $104.49. The business's 50-day moving average is $84.78 and its 200 day moving average is $89.05. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

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.