Aberdeen Group plc Buys 287,726 Shares of Colgate-Palmolive Company $CL

Key Points

• Aberdeen Group plc increased its stake in Colgate-Palmolive by 87.7% in the first quarter, owning 615,767 shares valued at approximately $57.77 million.
• Colgate-Palmolive reported earnings of $0.92 per share for Q1, exceeding analysts' expectations of $0.89, with revenues of $5.11 billion.
• The company's quarterly dividend was paid at $0.52 per share, reflecting an annualized dividend yield of 2.4% and a payout ratio of 58.43%.

Aberdeen Group plc increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 87.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 615,767 shares of the company's stock after acquiring an additional 287,726 shares during the quarter. Aberdeen Group plc owned about 0.08% of Colgate-Palmolive worth $57,774,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CL. Westend Capital Management LLC lifted its stake in Colgate-Palmolive by 111.1% in 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 in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the period. Vermillion Wealth Management Inc. bought a new stake in Colgate-Palmolive in the 4th quarter valued at $31,000. Accredited Wealth Management LLC acquired a new position in Colgate-Palmolive in the 4th quarter worth $34,000. Finally, Y.D. More Investments Ltd bought a new position in Colgate-Palmolive during the 1st quarter worth about $37,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of CL traded up $1.4590 during midday trading on Tuesday, reaching $85.7190. The stock had a trading volume of 4,548,147 shares, compared to its average volume of 5,225,339. The firm has a 50 day simple moving average of $88.07 and a 200-day simple moving average of $89.98. Colgate-Palmolive Company has a one year low of $82.40 and a one year high of $109.30. The firm has a market cap of $69.28 billion, a PE ratio of 24.08, a P/E/G ratio of 4.42 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.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the business posted $0.91 EPS. Colgate-Palmolive's revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Investors of record on Friday, July 18th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive's dividend payout ratio is 58.43%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup cut their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. UBS Group decreased their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $98.92.

About Colgate-Palmolive

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.