Allstate Corp Increases Position in Colgate-Palmolive Company $CL

Key Points

• Allstate Corp increased its stake in Colgate-Palmolive by 65.8%, acquiring a total of 38,063 shares valued at approximately $3.57 million.
• Colgate-Palmolive announced a quarterly dividend of $0.52 per share with an annualized yield of 2.4%, maintaining a payout ratio of 58.43%.
• Shares of Colgate-Palmolive have a current market price of $85.78, and analysts have varying target prices, with the consensus set at $98.92.

Allstate Corp boosted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 65.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,063 shares of the company's stock after acquiring an additional 15,104 shares during the period. Allstate Corp's holdings in Colgate-Palmolive were worth $3,567,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CL. Westend Capital Management LLC boosted its holdings in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Colgate-Palmolive by 1,913.3% in the 1st 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 position in shares of Colgate-Palmolive in the 4th quarter valued at $31,000. Accredited Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $34,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $0.23 during trading hours on Wednesday, reaching $84.37. 3,920,072 shares of the stock were exchanged, compared to its average volume of 5,207,427. The stock has a market cap of $68.19 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.37 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a 52-week low of $82.40 and a 52-week high of $109.30. The firm's 50 day moving average is $87.39 and its 200 day moving average is $89.90.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 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 net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group reduced their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Barclays upped their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced 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 report on Monday, August 4th. Finally, Citigroup reduced their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price 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.