Edgestream Partners L.P. Has $1.70 Million Holdings in Colgate-Palmolive Company $CL

Key Points

• Edgestream Partners increased its Colgate-Palmolive holdings by 131% in the first quarter, owning 19,924 shares valued at approximately $1.70 million. Institutional investors collectively hold 80.41% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $99, compared with the stock’s opening price of $89.86.
• Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 in EPS versus $0.95 estimated, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a $0.53 quarterly dividend, representing a 2.4% yield.

Edgestream Partners L.P. grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 131.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,924 shares of the company's stock after buying an additional 11,299 shares during the period. Edgestream Partners L.P.'s holdings in Colgate-Palmolive were worth $1,698,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. HighPoint Advisor Group LLC grew its holdings in Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company's stock worth $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock worth $356,000 after purchasing an additional 113 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Colgate-Palmolive by 0.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock valued at $1,225,000 after buying an additional 114 shares during the period. Gould Capital LLC increased its position in Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company's stock valued at $35,000 after buying an additional 115 shares in the last quarter. Finally, Sunpointe LLC raised its stake in Colgate-Palmolive by 4.0% during the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company's stock worth $241,000 after buying an additional 117 shares during the period. Institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley reissued an "overweight" rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Monday. Royal Bank Of Canada boosted their price objective on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Wells Fargo & Company increased their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Colgate-Palmolive in a report on Monday. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

Colgate-Palmolive Stock Performance

CL stock opened at $89.86 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 16.33. The firm has a market cap of $71.91 billion, a PE ratio of 35.66, a P/E/G ratio of 4.80 and a beta of 0.33. The business has a 50 day moving average of $90.96 and a 200-day moving average of $89.54. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.82 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 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive's dividend payout ratio is presently 84.13%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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