Horrell Capital Management Inc. Grows Position in Colgate-Palmolive Company $CL

Key Points

• Horrell Capital Management increased its Colgate-Palmolive position by 53,577.8% in the third quarter, ending with 19,324 shares worth approximately $1.65 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly EPS of $0.99, beating estimates of $0.95, while revenue rose 4.9% year over year to $5.36 billion. The stock recently traded at $88.07, below the analyst consensus price target of $98.65.
• The company declared a quarterly dividend of $0.53 per share, equal to an annualized $2.12 payout and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus, although some firms recently lowered their price targets.

Horrell Capital Management Inc. increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 53,577.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,324 shares of the company's stock after acquiring an additional 19,288 shares during the quarter. Horrell Capital Management Inc.'s holdings in Colgate-Palmolive were worth $1,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CL. State Street Corp increased its position in shares of Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company's stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp increased its position in Colgate-Palmolive by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock valued at $1,240,652,000 after buying an additional 1,010,872 shares in the last quarter. Deutsche Bank AG raised its stake in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after buying an additional 2,746,920 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Colgate-Palmolive by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock valued at $752,298,000 after buying an additional 88,917 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Colgate-Palmolive by 17.4% in the first quarter. Bank of America Corp DE now owns 6,637,597 shares of the company's stock worth $565,722,000 after acquiring an additional 986,063 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL traded up $0.86 during trading hours on Thursday, reaching $88.07. The stock had a trading volume of 4,080,637 shares, compared to its average volume of 5,703,748. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a fifty day moving average of $89.16 and a 200 day moving average of $88.77. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The stock has a market cap of $70.21 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 4.07 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period last year, the firm posted $0.92 EPS. Colgate-Palmolive's revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Colgate-Palmolive Company will post 3.87 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, November 13th. Investors of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive's dividend payout ratio (DPR) is 84.13%.

Analyst Ratings Changes

CL has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Weiss Ratings cut shares of Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 2nd. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Monday. Morgan Stanley restated an "overweight" rating and set a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, TD Cowen raised their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $98.65.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 175,191 shares of company stock worth $16,110,903 over the last three months. Company insiders own 0.43% of the company's stock.

About Colgate-Palmolive

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom's of Maine and Hill's Science Diet.

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