Colgate-Palmolive Company $CL Position Increased by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp increased its stake in Colgate-Palmolive by 4.8%, owning 239,099 shares valued at approximately $21.7 million.
• Colgate-Palmolive reported a quarterly earnings per share of $0.92, exceeding estimates and achieving a 1.0% year-over-year revenue increase to $5.11 billion.
• The company announced a quarterly dividend of $0.52, with an annualized yield of 2.7%, to be paid on November 14th to investors of record on October 17th.

Boston Trust Walden Corp increased its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,099 shares of the company's stock after purchasing an additional 10,961 shares during the period. Boston Trust Walden Corp's holdings in Colgate-Palmolive were worth $21,734,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CL. Westend Capital Management LLC raised its stake in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Saudi Central Bank bought a new stake in Colgate-Palmolive during the 1st quarter valued at $29,000. Ransom Advisory Ltd bought a new stake in Colgate-Palmolive during the 1st quarter valued at $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Colgate-Palmolive during the 1st quarter valued at $37,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $78.43 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 4.24 and a beta of 0.34. The stock's fifty day simple moving average is $82.34 and its 200 day simple moving average is $87.67. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $102.61.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its 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 business had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's payout ratio is presently 58.43%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America cut their target price on Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. Barclays dropped their price objective on Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. The Goldman Sachs Group dropped their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, October 2nd. Finally, Morgan Stanley dropped their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.21.

Colgate-Palmolive 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.

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