Generali Asset Management SPA SGR Boosts Stake in Colgate-Palmolive Company $CL

Key Points

• Generali Asset Management increased its stake in Colgate-Palmolive by 54.9% in Q2, now holding 101,806 shares valued at approximately $9.25 million.
• Multiple analysts have lowered their price targets for Colgate-Palmolive, with UBS reducing it from $99.00 to $92.00 while maintaining a "buy" rating.
• The company will pay a quarterly dividend of $0.52 per share on November 14th, representing an annual yield of 2.7%.

Generali Asset Management SPA SGR boosted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 54.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,806 shares of the company's stock after purchasing an additional 36,072 shares during the period. Generali Asset Management SPA SGR's holdings in Colgate-Palmolive were worth $9,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Westend Capital Management LLC boosted its holdings in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares during the period. Cornerstone Planning Group LLC boosted its position in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the first quarter worth $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Colgate-Palmolive in the first quarter valued at about $37,000. Institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group dropped their price target on Colgate-Palmolive from $99.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. The Goldman Sachs Group lowered their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, October 2nd. Barclays dropped their price objective on Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Bank of America reduced their target price on Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating for the company in a research note on Wednesday, October 8th. Finally, Citigroup decreased 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price of $92.21.

Colgate-Palmolive Price Performance

CL stock opened at $78.43 on Wednesday. The business has a fifty day moving average of $82.34 and a two-hundred day moving average of $87.67. The stock has a market cap of $63.39 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 4.24 and a beta of 0.34. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $102.61. 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 earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. As a group, research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend 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%.

About Colgate-Palmolive

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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