Empowered Funds LLC Boosts Stake in Colgate-Palmolive Company $CL

Key Points

• Empowered Funds LLC increased its holdings in Colgate-Palmolive by 40.7% during the first quarter, acquiring an additional 26,038 shares, bringing their total to 89,989 shares worth $8.43 million.
• Colgate-Palmolive's stock has received mixed ratings from analysts, with seven analysts rating it as a Buy, while the consensus target price is $98.00.
• The company recently announced a quarterly dividend of $0.52 per share, representing a dividend yield of 2.5% and a payout ratio of 58.43%.

Empowered Funds LLC lifted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 40.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,989 shares of the company's stock after buying an additional 26,038 shares during the quarter. Empowered Funds LLC's holdings in Colgate-Palmolive were worth $8,432,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Personal CFO Solutions LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter worth about $285,000. Vision Capital Management Inc. acquired a new position in Colgate-Palmolive in the 1st quarter worth about $322,000. Autumn Glory Partners LLC raised its holdings in Colgate-Palmolive by 67.4% in the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock worth $851,000 after purchasing an additional 3,586 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Colgate-Palmolive in the 1st quarter worth about $2,166,000. Finally, Penserra Capital Management LLC raised its holdings in Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock worth $997,000 after purchasing an additional 8,515 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.8%

Colgate-Palmolive stock traded down $0.71 during trading on Friday, reaching $83.35. 3,169,120 shares of the company were exchanged, compared to its average volume of 4,484,784. The stock's 50 day simple moving average is $85.95 and its two-hundred day simple moving average is $89.54. The company has a market capitalization of $67.37 billion, a P/E ratio of 23.41, a PEG ratio of 4.37 and a beta of 0.35. 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 Company has a 52-week low of $82.29 and a 52-week high of $106.26.

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. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the company earned $0.91 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio is 58.43%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CL. JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley reduced their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Citigroup reduced 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. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Finally, Barclays increased their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

Colgate-Palmolive Company 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.