Colgate-Palmolive Company $CL Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp significantly increased its stake in Colgate-Palmolive, boosting holdings by 472% in the first quarter to 474,692 shares worth about $40.5 million.
• Colgate-Palmolive reported better-than-expected quarterly results, with EPS of $0.97 versus $0.94 expected and revenue of $5.32 billion, up 8.4% from a year earlier.
• The company also announced a quarterly dividend of $0.53 per share, implying an annualized payout of $2.12 and a yield of 2.3%.

Fifth Third Bancorp boosted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 472.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 474,692 shares of the company's stock after acquiring an additional 391,702 shares during the quarter. Fifth Third Bancorp owned about 0.06% of Colgate-Palmolive worth $40,458,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CL. HighPoint Advisor Group LLC grew its stake in shares of Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company's stock worth $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC lifted its stake in shares of Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock valued at $356,000 after purchasing an additional 113 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock worth $1,225,000 after buying an additional 114 shares in the last quarter. Sunpointe LLC boosted its holdings in Colgate-Palmolive by 4.0% during the fourth quarter. Sunpointe LLC now owns 3,056 shares of the company's stock worth $241,000 after buying an additional 117 shares in the last quarter. Finally, TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after buying an additional 124 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CL. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Piper Sandler boosted their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a report on Thursday, June 11th. They issued a "market perform" rating and a $96.00 price target on the stock. Barclays lifted their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $92.31 on Monday. The business's fifty day moving average price is $89.91 and its two-hundred day moving average price is $88.17. The stock has a market cap of $73.86 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 4.86 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive 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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