Algert Global LLC Boosts Stake in Colgate-Palmolive Company $CL

Key Points

• Algert Global LLC increased its stake in Colgate-Palmolive Company by 32.1% during the first quarter, acquiring an additional 16,338 shares, bringing its total holdings to 67,176 shares worth approximately $6.29 million.
• Several hedge funds, including Vanguard Group and Goldman Sachs, have also raised their stakes in Colgate-Palmolive, contributing to institutional investors owning 80.41% of the company's stock.
• Colgate-Palmolive reported a quarterly earnings per share (EPS) of $0.92, surpassing analyst expectations, with revenues of $5.11 billion, reflecting a 1.0% year-over-year growth.

Algert Global LLC lifted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 32.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,176 shares of the company's stock after purchasing an additional 16,338 shares during the quarter. Algert Global LLC's holdings in Colgate-Palmolive were worth $6,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Colgate-Palmolive by 0.6% in the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock worth $7,660,749,000 after purchasing an additional 455,198 shares during the last quarter. Northern Trust Corp raised its stake in shares of Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after purchasing an additional 993,328 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after purchasing an additional 2,045,191 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 3.7% in the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock worth $672,447,000 after purchasing an additional 253,604 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Colgate-Palmolive by 5.0% in the first quarter. Invesco Ltd. now owns 6,867,209 shares of the company's stock worth $643,458,000 after purchasing an additional 329,291 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CL shares. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Morgan Stanley cut their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. cut 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. Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $98.92.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $85.02 on Monday. The stock has a 50-day simple moving average of $88.21 and a two-hundred day simple moving average of $89.99. Colgate-Palmolive Company has a 52-week low of $82.40 and a 52-week high of $109.30. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The firm has a market capitalization of $68.71 billion, a PE ratio of 23.88, a P/E/G ratio of 4.42 and a beta of 0.35.

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 (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Colgate-Palmolive's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive's 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.

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