Colgate-Palmolive Company $CL Holdings Boosted by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its stake in Colgate-Palmolive Company by 13.9%, acquiring an additional 24,946 shares during the first quarter, bringing its total holdings to 204,662 shares valued at approximately $19.18 million.
• Colgate-Palmolive reported a quarterly earnings per share (EPS) of $0.92, exceeding analysts' expectations of $0.89 and showing a revenue increase to $5.11 billion, up 1.0% year-over-year.
• The stock has seen price target adjustments from several firms, with Barclays raising its target from $86.00 to $87.00, while UBS and JPMorgan Chase & Co. reduced their targets, reflecting mixed analyst sentiment on the stock.

Advisors Capital Management LLC raised its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 13.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 204,662 shares of the company's stock after acquiring an additional 24,946 shares during the quarter. Advisors Capital Management LLC's holdings in Colgate-Palmolive were worth $19,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after buying an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive in the fourth quarter valued at about $36,000. Minot DeBlois Advisors LLC purchased a new stake in Colgate-Palmolive in the fourth quarter valued at about $58,000. NorthRock Partners LLC raised its stake in Colgate-Palmolive by 105.3% in the fourth quarter. NorthRock Partners LLC now owns 8,409 shares of the company's stock valued at $764,000 after buying an additional 4,314 shares during the last quarter. Finally, Nearwater Capital Markets Ltd purchased a new stake in Colgate-Palmolive in the fourth quarter valued at about $25,682,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.8%

Shares of NYSE:CL traded down $0.71 on Friday, hitting $83.35. 3,169,120 shares of the company's stock were exchanged, compared to its average volume of 4,484,784. The company has a market capitalization of $67.37 billion, a PE ratio of 23.41, a P/E/G ratio of 4.37 and a beta of 0.35. 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 1-year low of $82.29 and a 1-year high of $106.26. The firm's 50-day moving average is $85.95 and its 200 day moving average is $89.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations 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 prior year, the firm earned $0.91 EPS. Sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.43%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CL. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Barclays raised their price objective 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 report on Monday, August 4th. JPMorgan Chase & Co. dropped 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. Finally, UBS Group lowered their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.00.

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.