Aware Super Pty Ltd as trustee of Aware Super Invests $42.91 Million in Colgate-Palmolive Company $CL

Key Points

• Aware Super disclosed a new first-quarter stake in Colgate-Palmolive, buying 503,412 shares valued at about $42.91 million. The position represents roughly 0.7% of its holdings and 0.06% of Colgate-Palmolive.
• Colgate-Palmolive said it beat quarterly earnings expectations, posting $0.97 EPS versus the $0.94 estimate, on revenue of $5.32 billion that was also above forecasts. Revenue rose 8.4% year over year.
• The company also announced a quarterly dividend of $0.53 per share, equal to an annualized $2.12 payout and a 2.3% yield. Analysts currently rate the stock a “Moderate Buy” with an average target price of $97.41.

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 503,412 shares of the company's stock, valued at approximately $42,906,000. Colgate-Palmolive makes up about 0.7% of Aware Super Pty Ltd as trustee of Aware Super's holdings, making the stock its 29th biggest position. Aware Super Pty Ltd as trustee of Aware Super owned 0.06% of Colgate-Palmolive at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Colgate-Palmolive during the 4th quarter worth $861,670,000. Bank of New York Mellon Corp increased its holdings in Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock valued at $1,067,211,000 after buying an additional 7,927,238 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after buying an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $236,682,000. Finally, Deutsche Bank AG lifted its holdings in shares of Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock worth $857,040,000 after acquiring an additional 2,746,920 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Up 2.8%

Shares of NYSE:CL opened at $94.02 on Friday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a market capitalization of $75.24 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 4.82 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a fifty day moving average of $90.35 and a 200-day moving average of $88.51.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, equities analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 82.49%.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent analyst reports. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a "buy" rating in a research note on Tuesday, April 21st. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Citigroup boosted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Weiss Ratings upgraded Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.41.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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