First Business Financial Services Inc. Purchases New Shares in Colgate-Palmolive Company $CL

Key Points

• First Business Financial Services Inc. has acquired a new stake in Colgate-Palmolive, purchasing 12,302 shares valued at approximately $1,118,000 in the second quarter.
• Colgate-Palmolive's recent earnings report showed an EPS of $0.92, exceeding analysts' estimates, along with a revenue of $5.11 billion for the quarter.
• The company has declared a quarterly dividend of $0.52 per share, set to be paid on November 14th, representing an annualized yield of 2.7%.

First Business Financial Services Inc. acquired a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,302 shares of the company's stock, valued at approximately $1,118,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Grimes & Company Inc. lifted its holdings in Colgate-Palmolive by 1.0% during the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company's stock worth $1,136,000 after acquiring an additional 118 shares during the period. RFG Advisory LLC boosted its holdings in shares of Colgate-Palmolive by 1.4% in the 2nd quarter. RFG Advisory LLC now owns 9,227 shares of the company's stock worth $839,000 after buying an additional 123 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company's stock valued at $497,000 after buying an additional 129 shares during the period. MONECO Advisors LLC raised its position in Colgate-Palmolive by 2.2% in the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company's stock worth $567,000 after acquiring an additional 133 shares during the period. Finally, Sowell Financial Services LLC boosted its stake in Colgate-Palmolive by 2.5% in the second quarter. Sowell Financial Services LLC now owns 5,478 shares of the company's stock valued at $498,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Morgan Stanley lowered their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a research note on Friday, October 10th. Raymond James Financial cut their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday. Finally, Citigroup dropped their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.50.

Colgate-Palmolive Price Performance

NYSE:CL opened at $78.47 on Friday. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $100.18. The stock has a fifty day moving average of $81.47 and a 200 day moving average of $87.01. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The firm has a market capitalization of $63.42 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 4.69 and a beta of 0.34.

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

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 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.

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