Biltmore Family Office LLC Buys 3,600 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• Biltmore Family Office LLC increased its holdings in Colgate-Palmolive by 63%, owning 9,318 shares worth $873,000 as of the latest reporting period.
• Colgate-Palmolive reported a quarterly EPS of $0.92, surpassing analysts' expectations of $0.89, along with a revenue of $5.11 billion.
• The company announced a quarterly dividend of $0.52 per share, reflecting an annual payout of $2.08 and a dividend yield of 2.5%.

Biltmore Family Office LLC raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 63.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,318 shares of the company's stock after acquiring an additional 3,600 shares during the period. Biltmore Family Office LLC's holdings in Colgate-Palmolive were worth $873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after acquiring an additional 2,045,191 shares during the period. Deutsche Bank AG lifted its stake in shares of Colgate-Palmolive by 35.6% in the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after purchasing an additional 1,816,865 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 45.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock worth $521,250,000 after purchasing an additional 1,727,105 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $111,738,000. Finally, GAMMA Investing LLC lifted its stake in Colgate-Palmolive by 10,601.7% in the first quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock valued at $103,574,000 after buying an additional 1,095,050 shares during the period. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CL. UBS Group lowered their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a 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 for the company in a research report on Monday, August 4th. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Finally, Citigroup reduced their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $98.92.

Colgate-Palmolive Stock Down 2.0%

Shares of CL traded down $1.69 on Thursday, reaching $84.65. The stock had a trading volume of 1,519,544 shares, compared to its average volume of 5,232,065. The company has a 50-day simple moving average of $88.41 and a 200-day simple moving average of $90.07. 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 $68.42 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 4.42 and a beta of 0.35. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $109.30.

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

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

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.