Costello Asset Management INC Acquires 3,281 Shares of 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 lifted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 410.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,081 shares of the company's stock after buying an additional 3,281 shares during the quarter. Costello Asset Management INC's holdings in Colgate-Palmolive were worth $382,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Advyzon Investment Management LLC bought a new position in shares of Colgate-Palmolive in the first quarter worth approximately $282,000. Commonwealth Equity Services LLC boosted its position in Colgate-Palmolive by 2.2% during the first quarter. Commonwealth Equity Services LLC now owns 261,739 shares of the company's stock valued at $24,525,000 after buying an additional 5,705 shares during the period. Allianz SE boosted its position in Colgate-Palmolive by 6.0% during the first quarter. Allianz SE now owns 100,891 shares of the company's stock valued at $9,453,000 after buying an additional 5,676 shares during the period. Avalon Trust Co boosted its position in Colgate-Palmolive by 25.7% during the first quarter. Avalon Trust Co now owns 880 shares of the company's stock valued at $82,000 after buying an additional 180 shares during the period. Finally, Scotia Capital Inc. boosted its position in Colgate-Palmolive by 0.4% during the first quarter. Scotia Capital Inc. now owns 63,982 shares of the company's stock valued at $5,995,000 after buying an additional 249 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Down 0.0%

Colgate-Palmolive stock traded down $0.00 on Friday, hitting $84.71. 4,133,894 shares of the stock traded hands, compared to its average volume of 4,850,591. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 6.79. The firm has a market cap of $68.46 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 4.41 and a beta of 0.35. The business's fifty day simple moving average is $88.76 and its 200 day simple moving average is $90.13. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. Colgate-Palmolive's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.43%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Barclays raised their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Morgan Stanley dropped their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $98.92.

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.