Colgate-Palmolive Company $CL Stock Position Raised by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its stake in Colgate-Palmolive Company by 49.7%, owning 11,447 shares worth approximately $1,073,000 after acquiring additional shares in the first quarter.
• Colgate-Palmolive reported earnings of $0.92 per share, surpassing analysts' expectations of $0.89, with a revenue increase of 1.0% year-over-year to $5.11 billion.
• The company has announced a quarterly dividend of $0.52 per share, which is set to yield 2.5% annually, with a payout ratio of 58.43%.

Belpointe Asset Management LLC lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,447 shares of the company's stock after acquiring an additional 3,798 shares during the quarter. Belpointe Asset Management LLC's holdings in Colgate-Palmolive were worth $1,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after buying an additional 450 shares during the period. Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $36,000. NorthRock Partners LLC boosted its position in shares of Colgate-Palmolive by 105.3% in the fourth quarter. NorthRock Partners LLC now owns 8,409 shares of the company's stock worth $764,000 after buying an additional 4,314 shares during the period. Man Group plc boosted its position in shares of Colgate-Palmolive by 6.0% in the fourth quarter. Man Group plc now owns 532,849 shares of the company's stock worth $48,441,000 after buying an additional 29,994 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $1,096,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $84.06 on Friday. Colgate-Palmolive Company has a fifty-two week low of $82.29 and a fifty-two week high of $106.44. The stock's 50-day moving average is $86.11 and its two-hundred day moving average is $89.61. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market cap of $67.94 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 4.33 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $0.91 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's payout ratio is presently 58.43%.

Analyst Ratings Changes

CL has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Morgan Stanley cut their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Citigroup cut their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, Barclays increased their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and an average price target of $98.00.

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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