Colgate-Palmolive Company $CL Shares Acquired by PineStone Asset Management Inc.

Key Points

• PineStone Asset Management Inc. increased its holdings in Colgate-Palmolive by 8.1%, owning 1,259,389 shares valued at approximately $114 million.
• Colgate-Palmolive reported earnings per share (EPS) of $0.92, exceeding analysts' expectations and achieving a revenue of $5.11 billion for the quarter.
• The company announced a quarterly dividend of $0.52, with an annualized yield of 2.6%, to be paid on November 14th.

PineStone Asset Management Inc. grew its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,259,389 shares of the company's stock after acquiring an additional 94,312 shares during the quarter. Colgate-Palmolive accounts for approximately 0.7% of PineStone Asset Management Inc.'s holdings, making the stock its 28th largest holding. PineStone Asset Management Inc. owned 0.16% of Colgate-Palmolive worth $114,478,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares in the last quarter. Nuveen LLC acquired a new position in shares of Colgate-Palmolive in the first quarter valued at about $217,593,000. Goldman Sachs Group Inc. increased its holdings in shares of Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings 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. Finally, GAMMA Investing LLC lifted its holdings in shares of Colgate-Palmolive by 10,601.7% during the first quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock worth $103,574,000 after purchasing an additional 1,095,050 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 1.8%

Colgate-Palmolive stock opened at $79.64 on Friday. The stock has a market capitalization of $64.37 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 4.22 and a beta of 0.35. Colgate-Palmolive Company has a 12 month low of $78.76 and a 12 month high of $104.16. The business has a 50 day simple moving average of $84.34 and a 200-day simple moving average of $88.81. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion during 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 business's revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive's payout ratio is 58.43%.

Analysts Set New Price Targets

A number of research firms recently commented 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 report on Tuesday, July 15th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a report on Thursday. Morgan Stanley decreased their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. decreased 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. Finally, Citigroup decreased their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and an average price target of $97.73.

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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.