Brandywine Global Investment Management LLC Takes $5.43 Million Position in Colgate-Palmolive Company $CL

Key Points

• Brandywine Global Investment Management LLC has acquired a new stake in Colgate-Palmolive Company, purchasing 57,959 shares valued at approximately $5.43 million.
• Colgate-Palmolive reported a quarterly earnings per share of $0.92, exceeding estimates, with revenue reaching $5.11 billion, indicating a 1.0% year-over-year increase.
• The company recently declared a quarterly dividend of $0.52 per share, representing a 2.4% dividend yield and a payout ratio of 58.43%.

Brandywine Global Investment Management LLC bought a new position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 57,959 shares of the company's stock, valued at approximately $5,431,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC increased its stake in Colgate-Palmolive by 111.1% during 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 grew its stake in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after buying an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $31,000. Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price objective 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. dropped their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Morgan Stanley dropped their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $98.92.

Colgate-Palmolive Stock Down 0.6%

NYSE:CL traded down $0.5010 during midday trading on Friday, reaching $85.7790. The company had a trading volume of 4,087,413 shares, compared to its average volume of 5,056,872. The firm has a market capitalization of $69.33 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 4.47 and a beta of 0.35. The stock's fifty day simple moving average is $87.60 and its 200-day simple moving average is $89.93. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $109.30. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

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 during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive's payout ratio is 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.