Hancock Whitney Corp Purchases 19,073 Shares of Colgate-Palmolive Company $CL

Key Points

• Hancock Whitney Corp increased its stake in Colgate-Palmolive by 122.4%, acquiring an additional 19,073 shares, bringing its total to 34,657 shares valued at approximately $3.25 million.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding estimates of $0.89, with revenues of $5.11 billion, a 1.0% increase from the previous year.
• The company announced a quarterly dividend of $0.52, resulting in an annualized dividend yield of 2.5% with a payout ratio of 58.43%.

Hancock Whitney Corp raised its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 122.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,657 shares of the company's stock after purchasing an additional 19,073 shares during the period. Hancock Whitney Corp's holdings in Colgate-Palmolive were worth $3,247,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CL. Brighton Jones LLC increased its holdings in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after buying an additional 450 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth $36,000. Captrust Financial Advisors increased its holdings in shares of Colgate-Palmolive by 3.1% during the fourth quarter. Captrust Financial Advisors now owns 115,962 shares of the company's stock worth $10,542,000 after buying an additional 3,473 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of Colgate-Palmolive by 2.8% during the fourth quarter. CoreCap Advisors LLC now owns 15,232 shares of the company's stock worth $1,385,000 after buying an additional 419 shares in the last quarter. Finally, Colonial Trust Co SC increased its holdings in shares of Colgate-Palmolive by 39.9% during the fourth quarter. Colonial Trust Co SC now owns 6,318 shares of the company's stock worth $574,000 after buying an additional 1,802 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 1.2%

Colgate-Palmolive stock traded down $0.98 during trading hours on Monday, reaching $84.15. 3,971,439 shares of the company's stock were exchanged, compared to its average volume of 4,512,389. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The firm's 50 day simple moving average is $86.74 and its 200 day simple moving average is $89.77. Colgate-Palmolive Company has a twelve month low of $82.40 and a twelve month high of $107.82. The firm has a market capitalization of $68.01 billion, a PE ratio of 23.64, a PEG ratio of 4.43 and a beta of 0.35.

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 for the quarter, topping 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 business's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. Research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid a $0.52 dividend. The ex-dividend date was Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Wall Street Analysts Forecast Growth

CL has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Finally, Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.92.

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.