Ethic Inc. Acquires 11,441 Shares of Colgate-Palmolive Company $CL

Key Points

• Ethic Inc. has increased its holdings in Colgate-Palmolive by 9.6%, acquiring an additional 11,441 shares in the first quarter, bringing its total to 130,983 shares valued at approximately $12.3 million.
• Colgate-Palmolive recently reported earnings of $0.92 per share, exceeding analysts' estimates, with revenues of $5.11 billion for the quarter, a 1% increase compared to the previous year.
• The company declared a quarterly dividend of $0.52 per share, effective August 15, with a current annualized dividend yield of 2.5%.

Ethic Inc. grew its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,983 shares of the company's stock after acquiring an additional 11,441 shares during the period. Ethic Inc.'s holdings in Colgate-Palmolive were worth $12,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CL. EverSource Wealth Advisors LLC boosted its stake in Colgate-Palmolive by 13.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,541 shares of the company's stock valued at $519,000 after purchasing an additional 675 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in Colgate-Palmolive during the first quarter valued at approximately $5,431,000. Aberdeen Group plc lifted its stake in Colgate-Palmolive by 87.7% during the first quarter. Aberdeen Group plc now owns 615,767 shares of the company's stock valued at $57,774,000 after purchasing an additional 287,726 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Colgate-Palmolive by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,991,652 shares of the company's stock valued at $373,995,000 after purchasing an additional 12,967 shares during the last quarter. Finally, Horizon Investments LLC lifted its stake in Colgate-Palmolive by 4.0% during the first quarter. Horizon Investments LLC now owns 12,890 shares of the company's stock valued at $1,201,000 after purchasing an additional 500 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. 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. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. Barclays increased 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 note on Tuesday, July 15th. Citigroup cut their price objective 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. 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, August 4th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.92.

Colgate-Palmolive Trading Up 1.7%

NYSE:CL traded up $1.4590 during trading hours on Tuesday, hitting $85.7190. 4,529,736 shares of the stock were exchanged, compared to its average volume of 5,225,315. The company's 50 day moving average is $88.07 and its two-hundred day moving average is $89.98. The company has a market capitalization of $69.28 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 4.42 and a beta of 0.35. Colgate-Palmolive Company has a twelve month low of $82.40 and a twelve month high of $109.30. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data 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 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 period in the prior year, the business posted $0.91 earnings per share. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

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.