Colgate-Palmolive Company $CL Stake Lifted by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. has increased its stake in Colgate-Palmolive by 13.6% in the second quarter, owning now 36,720 shares worth approximately $3.34 million.
• Colgate-Palmolive recently reported a quarterly earnings per share of $0.92, exceeding estimates, with revenues reaching $5.11 billion, marking a 1.0% year-over-year increase.
• The company has announced a quarterly dividend of $0.52, which will be paid on November 14th, representing an annualized yield of 2.7%.

LGT Fund Management Co Ltd. increased its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 13.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,720 shares of the company's stock after acquiring an additional 4,391 shares during the period. LGT Fund Management Co Ltd.'s holdings in Colgate-Palmolive were worth $3,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Colgate-Palmolive by 0.6% in the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock valued at $7,660,749,000 after acquiring an additional 455,198 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Colgate-Palmolive by 3.7% in the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock valued at $672,447,000 after acquiring an additional 253,604 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Colgate-Palmolive by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company's stock valued at $653,761,000 after acquiring an additional 177,833 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE:CL opened at $78.01 on Friday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company has a market cap of $63.05 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.07 and a beta of 0.34. Colgate-Palmolive Company has a 52 week low of $77.91 and a 52 week high of $102.61. The firm has a 50 day simple moving average of $83.29 and a 200 day simple moving average of $88.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The business 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%. The firm'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. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Weiss Ratings restated a "hold (c)" rating on shares of Colgate-Palmolive in a report on Saturday, September 27th. JPMorgan Chase & Co. reduced their target price on shares of 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 target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, Barclays reduced their target price on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $94.83.

Colgate-Palmolive 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.

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