Advisors Asset Management Inc. Buys 10,105 Shares of Colgate-Palmolive Company $CL

Key Points

• Advisors Asset Management Inc. increased its stake in Colgate-Palmolive by 12.9%, acquiring an additional 10,105 shares to own a total of 88,579 shares valued at approximately $8.3 million.
• Colgate-Palmolive's quarterly earnings exceeded expectations with an EPS of $0.92, surpassing the consensus estimate of $0.89, and revenue also beat estimates at $5.11 billion.
• The company's recent dividend payment was $0.52 per share, resulting in an annualized dividend of $2.08 and a current dividend yield of 2.5%.

Advisors Asset Management Inc. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 12.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,579 shares of the company's stock after acquiring an additional 10,105 shares during the quarter. Advisors Asset Management Inc.'s holdings in Colgate-Palmolive were worth $8,300,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CL. Westend Capital Management LLC lifted 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 acquiring an additional 140 shares during the period. Cornerstone Planning Group LLC boosted its stake in 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 purchasing an additional 287 shares in the last quarter. Saudi Central Bank acquired a new position in Colgate-Palmolive in the first quarter worth $29,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive in the fourth quarter worth $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive in the fourth quarter worth $36,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Down 0.8%

Shares of Colgate-Palmolive stock opened at $83.70 on Thursday. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30. The business has a 50-day moving average of $86.90 and a two-hundred day moving average of $89.76. The company has a market capitalization of $67.65 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 4.37 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly 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. The company had revenue of $5.11 billion during 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 company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a dividend of $0.52 per share. The ex-dividend date 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 presently 58.43%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. 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. 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. 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. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Citigroup dropped their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of "Moderate Buy" and a consensus price target 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.

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