Colgate-Palmolive Company $CL Shares Bought by AMI Asset Management Corp

Key Points

• AMI Asset Management Corp increased its stake in Colgate-Palmolive by 17.8% in the first quarter, buying 75,262 more shares and bringing its holding to 498,079 shares worth about $42.5 million.
• Colgate-Palmolive recently beat quarterly earnings and revenue estimates, reporting $0.97 EPS on $5.32 billion in sales, with revenue up 8.4% from a year earlier.
• The company declared a quarterly dividend of $0.53 per share, equivalent to an annualized yield of about 2.3%, while analysts currently rate the stock Moderate Buy with a consensus price target of $95.88.

AMI Asset Management Corp raised its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 498,079 shares of the company's stock after buying an additional 75,262 shares during the quarter. Colgate-Palmolive makes up approximately 2.7% of AMI Asset Management Corp's portfolio, making the stock its 14th biggest position. AMI Asset Management Corp owned approximately 0.06% of Colgate-Palmolive worth $42,451,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Colgate-Palmolive by 7.9% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 5,849 shares of the company's stock valued at $499,000 after purchasing an additional 430 shares during the period. Moss Adams Wealth Advisors LLC boosted its stake in shares of Colgate-Palmolive by 6.9% during the first quarter. Moss Adams Wealth Advisors LLC now owns 3,412 shares of the company's stock worth $291,000 after buying an additional 221 shares during the period. Three Magnolias Financial Advisors LLC boosted its stake in shares of Colgate-Palmolive by 8.8% during the first quarter. Three Magnolias Financial Advisors LLC now owns 6,111 shares of the company's stock worth $521,000 after buying an additional 495 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Colgate-Palmolive by 0.8% during the first quarter. Apollon Wealth Management LLC now owns 33,459 shares of the company's stock worth $2,852,000 after buying an additional 282 shares during the last quarter. Finally, Patton Fund Management Inc. grew its holdings in shares of Colgate-Palmolive by 23.1% during the first quarter. Patton Fund Management Inc. now owns 3,433 shares of the company's stock worth $293,000 after buying an additional 645 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CL has been the subject of several analyst reports. Barclays upped their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $100.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Weiss Ratings raised Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Finally, Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a "buy" rating in a research report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.88.

Colgate-Palmolive Trading Up 0.2%

NYSE:CL opened at $92.26 on Tuesday. The stock has a fifty day moving average price of $88.24 and a two-hundred day moving average price of $87.23. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The stock has a market capitalization of $73.83 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 4.85 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive's payout ratio is currently 82.49%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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