Exchange Traded Concepts LLC Grows Holdings in Colgate-Palmolive (NYSE:CL)

Exchange Traded Concepts LLC increased its position in Colgate-Palmolive (NYSE:CL - Free Report) by 49.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 330,619 shares of the company's stock after buying an additional 109,179 shares during the quarter. Exchange Traded Concepts LLC's holdings in Colgate-Palmolive were worth $30,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock valued at $7,391,261,000 after acquiring an additional 588,230 shares during the last quarter. Geode Capital Management LLC increased its holdings in Colgate-Palmolive by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock valued at $1,868,723,000 after purchasing an additional 324,683 shares during the period. Norges Bank bought a new position in Colgate-Palmolive during the 4th quarter worth $912,375,000. Northern Trust Corp lifted its holdings in Colgate-Palmolive by 11.7% during the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after buying an additional 993,328 shares during the period. Finally, Amundi grew its position in shares of Colgate-Palmolive by 12.8% in the 4th quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after buying an additional 1,040,604 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

CL has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Citigroup raised their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group increased their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lifted their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Stock Down 3.2%

Shares of NYSE CL traded down $2.94 during midday trading on Friday, hitting $90.20. 5,331,970 shares of the stock traded hands, compared to its average volume of 4,757,255. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The business has a 50 day moving average price of $91.75 and a two-hundred day moving average price of $91.03. The company has a market cap of $73.10 billion, a PE ratio of 25.63, a P/E/G ratio of 4.20 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the previous year, the business posted $0.86 EPS. Colgate-Palmolive's quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

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.