First Horizon Corp Purchases 31,583 Shares of Colgate-Palmolive Company $CL

Key Points

• First Horizon Corp boosted its Colgate-Palmolive stake by 231.9% in the first quarter, buying 31,583 additional shares and lifting its total holding to 45,200 shares worth about $3.85 million.
• Colgate-Palmolive reported better-than-expected quarterly results, with EPS of $0.97 versus the $0.94 estimate and revenue of $5.32 billion, up 8.4% from a year earlier.
• The company declared a quarterly dividend of $0.53 per share, implying an annualized yield of about 2.3%, while analysts currently rate the stock a Moderate Buy with a $96.29 average price target.

First Horizon Corp raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 231.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,200 shares of the company's stock after purchasing an additional 31,583 shares during the period. First Horizon Corp's holdings in Colgate-Palmolive were worth $3,852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CL. Kemnay Advisory Services Inc. acquired a new position in Colgate-Palmolive in the fourth quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its holdings in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC raised its position in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management raised its position in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

CL stock opened at $92.31 on Friday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm has a market cap of $73.86 billion, a PE ratio of 35.92, a P/E/G ratio of 4.80 and a beta of 0.33. The business's 50-day moving average price is $89.91 and its two-hundred day moving average price is $88.10.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive's dividend payout ratio is presently 82.49%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Barclays increased their target price on Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. UBS Group raised their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $99.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the company a "buy" rating in a research note on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $96.29.

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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