Deane Retirement Strategies Inc. Invests $4.14 Million in Colgate-Palmolive Company $CL

Key Points

• Deane Retirement Strategies Inc. has acquired a new stake in Colgate-Palmolive Company, purchasing 45,569 shares valued at approximately $4.14 million, making it the firm's 23rd largest holding.
• Colgate-Palmolive's recent quarterly earnings reported $0.92 EPS, which surpassed analysts' expectations of $0.89, with a revenue of $5.11 billion for the quarter.
• The company has declared a quarterly dividend of $0.52 per share, which will be paid on November 14th, reflecting an annualized yield of 2.6%.

Deane Retirement Strategies Inc. acquired a new position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 45,569 shares of the company's stock, valued at approximately $4,137,000. Colgate-Palmolive accounts for approximately 1.9% of Deane Retirement Strategies Inc.'s portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after purchasing an additional 450 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $36,000. State of Wyoming raised its stake in Colgate-Palmolive by 75.2% in the fourth quarter. State of Wyoming now owns 3,261 shares of the company's stock worth $296,000 after buying an additional 1,400 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Colgate-Palmolive by 17.2% during the fourth quarter. Continuum Advisory LLC now owns 893 shares of the company's stock valued at $81,000 after purchasing an additional 131 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Colgate-Palmolive by 14.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 148,649 shares of the company's stock worth $13,514,000 after purchasing an additional 18,595 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Barclays raised their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock 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, August 4th. UBS Group lowered their price objective on shares of 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, Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Stock Performance

NYSE:CL traded down $0.30 during midday trading on Friday, reaching $81.23. 14,727,470 shares of the company traded hands, compared to its average volume of 5,043,141. Colgate-Palmolive Company has a twelve month low of $81.01 and a twelve month high of $104.49. 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 capitalization of $65.65 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 4.22 and a beta of 0.35. The company has a fifty day moving average price of $84.97 and a 200 day moving average price of $89.18.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive's dividend payout ratio (DPR) is 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.