Costello Asset Management INC Grows Stock Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Costello Asset Management INC increased its stake in Colgate-Palmolive Company by 410.1% in Q1, acquiring a total of 4,081 shares worth $382,000.
• Colgate-Palmolive reported a quarterly earnings per share of $0.92, exceeding estimates, with a revenue of $5.11 billion, reflecting a 1.0% year-over-year increase.
• The company recently announced a quarterly dividend of $0.52 per share, representing an annualized dividend yield of 2.5%.

Costello Asset Management INC increased its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 410.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,081 shares of the company's stock after acquiring an additional 3,281 shares during the period. Costello Asset Management INC's holdings in Colgate-Palmolive were worth $382,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC raised its holdings in Colgate-Palmolive by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock worth $847,000 after purchasing an additional 110 shares during the period. Aberdeen Wealth Management LLC increased its position in shares of Colgate-Palmolive by 0.6% in the fourth quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after buying an additional 125 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock worth $317,000 after buying an additional 130 shares during the period. Continuum Advisory LLC lifted its position in shares of Colgate-Palmolive by 17.2% during the 4th quarter. Continuum Advisory LLC now owns 893 shares of the company's stock valued at $81,000 after buying an additional 131 shares in the last quarter. Finally, KFG Wealth Management LLC grew its stake in Colgate-Palmolive by 1.5% in the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company's stock valued at $828,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CL. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Barclays raised their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup lowered their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday. UBS Group reduced their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and an average target price of $98.92.

Colgate-Palmolive Trading Up 0.0%

Shares of Colgate-Palmolive stock traded up $0.04 on Thursday, reaching $84.65. The company had a trading volume of 4,000,187 shares, compared to its average volume of 4,877,156. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.28 and a current ratio of 0.89. The firm has a market cap of $68.42 billion, a PE ratio of 23.78, a PEG ratio of 4.40 and a beta of 0.35. The firm's 50 day moving average price is $88.92 and its two-hundred day moving average price is $90.15. Colgate-Palmolive Company has a 52-week low of $82.40 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The company's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

About Colgate-Palmolive

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.