Apexium Financial LP Invests $276,000 in Colgate-Palmolive Company $CL

Key Points

• Apexium Financial LP has acquired a new position in Colgate-Palmolive Company, purchasing 2,946 shares valued at approximately $276,000 during the first quarter.
• Colgate-Palmolive posted a quarterly earnings result of $0.92 EPS, exceeding analyst estimates of $0.89, with a revenue of $5.11 billion for the quarter.
• The company recently announced a quarterly dividend of $0.52 per share, translating to an annualized dividend of $2.08 and a yield of 2.4%.

Apexium Financial LP purchased a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,946 shares of the company's stock, valued at approximately $276,000.

Other institutional investors have also recently made changes to their positions in the company. Westend Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in 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 buying an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $31,000. Accredited Wealth Management LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $34,000. Finally, Y.D. More Investments Ltd purchased a new position in Colgate-Palmolive during the first quarter worth approximately $37,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

NYSE:CL opened at $85.7790 on Monday. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The company has a market capitalization of $69.33 billion, a P/E ratio of 24.10, a P/E/G ratio of 4.47 and a beta of 0.35. The stock's fifty day moving average is $87.60 and its two-hundred day moving average is $89.96.

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

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive's payout ratio is presently 58.43%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CL shares. Citigroup reduced their price objective 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. Morgan Stanley reduced their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research 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 research report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price objective 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. Finally, UBS Group reduced their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently 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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.