Citigroup Inc. Has $89.22 Million Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Citigroup Inc. has increased its stake in Colgate-Palmolive Company by 20.1%, now owning 952,149 shares valued at approximately $89.2 million.
• Colgate-Palmolive reported earnings per share of $0.92 for the most recent quarter, exceeding estimates, with a revenue increase of 1.0% year-over-year.
• The company has announced a quarterly dividend of $0.52 per share, with a yield of 2.5%, reflecting a payout ratio of 58.43%.

Citigroup Inc. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952,149 shares of the company's stock after buying an additional 159,565 shares during the period. Citigroup Inc. owned 0.12% of Colgate-Palmolive worth $89,216,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Westend Capital Management LLC grew its position 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 valued at $25,000 after purchasing an additional 140 shares during the last quarter. Cornerstone Planning Group LLC grew 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. acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $31,000. Accredited Wealth Management LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $36,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded up $0.47 during trading on Tuesday, reaching $84.92. The stock had a trading volume of 5,191,470 shares, compared to its average volume of 4,832,030. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30. The business's 50-day moving average price is $88.49 and its 200 day moving average price is $90.10. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The stock has a market capitalization of $68.63 billion, a PE ratio of 23.85, a P/E/G ratio of 4.40 and a beta of 0.35.

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

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CL. Barclays lifted their target price 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. Citigroup decreased their target price 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. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. UBS Group decreased 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" 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.