Barden Capital Management Inc. Acquires New Holdings in Colgate-Palmolive Company $CL

Key Points

• Barden Capital Management acquired 12,798 Colgate-Palmolive shares worth approximately $1.17 million, while institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding estimates of $0.95, as revenue rose 4.9% year over year to $5.36 billion.
• The company maintains a quarterly dividend of $0.53, equivalent to a 2.3% yield, while analysts give the stock a “Moderate Buy” consensus rating with an average $99 price target.

Barden Capital Management Inc. bought a new position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,798 shares of the company's stock, valued at approximately $1,173,000. Colgate-Palmolive accounts for about 1.1% of Barden Capital Management Inc.'s holdings, making the stock its 20th biggest holding.

A number of other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas raised its stake in shares of Colgate-Palmolive by 35.3% in the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company's stock valued at $37,110,000 after acquiring an additional 122,634 shares in the last quarter. Flputnam Investment Management Co. grew its stake in Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company's stock worth $15,881,000 after purchasing an additional 13,804 shares in the last quarter. SEB Asset Management AB acquired a new position in Colgate-Palmolive during the 1st quarter worth $91,149,000. Brandywine Financial Group increased its holdings in Colgate-Palmolive by 35,612.3% during the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company's stock worth $6,209,000 after purchasing an additional 72,649 shares during the period. Finally, Caprock Group LLC raised its position in Colgate-Palmolive by 116.5% in the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company's stock valued at $5,121,000 after purchasing an additional 34,879 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.1%

CL opened at $91.90 on Monday. The business's 50-day simple moving average is $91.67 and its 200-day simple moving average is $90.02. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The stock has a market capitalization of $73.26 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 4.48 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business's revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive's dividend payout ratio is presently 84.13%.

Insider Buying and Selling

In related news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

CL has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. Morgan Stanley restated an "overweight" rating and set a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Royal Bank Of Canada lifted their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and an average price target of $99.00.

Colgate-Palmolive Profile

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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