Colgate-Palmolive Company $CL Stake Boosted by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its Colgate-Palmolive stake by 40.3% in the first quarter, buying 16,304 additional shares and bringing its total position to 56,767 shares worth about $4.84 million.
• Colgate-Palmolive reported better-than-expected quarterly results, with EPS of $0.97 versus estimates of $0.94 and revenue of $5.32 billion, up 8.4% year over year.
• The company also declared a quarterly dividend of $0.53 per share, implying an annualized yield of about 2.3%; meanwhile, analysts currently have a consensus rating of Moderate Buy with an average price target of $96.59.

Kestra Advisory Services LLC lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 40.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,767 shares of the company's stock after purchasing an additional 16,304 shares during the quarter. Kestra Advisory Services LLC's holdings in Colgate-Palmolive were worth $4,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CL. Norges Bank acquired a new stake in Colgate-Palmolive in the fourth quarter worth $861,670,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after acquiring an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $236,682,000. Deutsche Bank AG grew its position in shares of Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock worth $857,040,000 after acquiring an additional 2,746,920 shares during the last quarter. Finally, Diamant Asset Management Inc. increased its holdings in shares of Colgate-Palmolive by 8,123.0% in the 1st quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company's stock worth $201,072,000 after acquiring an additional 2,330,476 shares during the period. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $91.41 on Thursday. The stock has a market cap of $73.15 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 4.80 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The stock's 50 day moving average price is $90.22 and its 200 day moving average price is $88.41.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company posted $0.91 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid 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 dividend payout ratio (DPR) is currently 82.49%.

Analyst Ratings Changes

A number of research analysts have issued reports on CL shares. Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a research note on Thursday, June 11th. They set a "market perform" rating and a $96.00 target price for the company. Barclays lifted their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Royal Bank Of Canada reissued an "outperform" rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, UBS Group raised their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Twelve equities research 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 stock has an average rating of "Moderate Buy" and an average price target of $96.59.

About Colgate-Palmolive

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.