Hsbc Holdings PLC Raises Stock Holdings in Colgate-Palmolive Company $CL

Key Points

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Hsbc Holdings PLC raised its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,975,239 shares of the company's stock after purchasing an additional 212,670 shares during the period. Hsbc Holdings PLC owned 0.37% of Colgate-Palmolive worth $278,621,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Personal CFO Solutions LLC purchased a new position in shares of Colgate-Palmolive in the first quarter worth about $285,000. Vision Capital Management Inc. purchased a new position in shares of Colgate-Palmolive in the first quarter worth about $322,000. Autumn Glory Partners LLC increased its stake in shares of Colgate-Palmolive by 67.4% in the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock worth $851,000 after purchasing an additional 3,586 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Colgate-Palmolive in the first quarter valued at approximately $2,166,000. Finally, Penserra Capital Management LLC boosted its position in shares of Colgate-Palmolive by 398.6% in the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock valued at $997,000 after acquiring an additional 8,515 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

CL has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Finally, Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.92.

Colgate-Palmolive Price Performance

Shares of CL stock traded down $0.5010 during trading hours on Friday, hitting $85.7790. 4,087,413 shares of the company's stock were exchanged, compared to its average volume of 5,056,872. The company has a market capitalization of $69.33 billion, a PE ratio of 24.10, a PEG ratio of 4.47 and a beta of 0.35. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $109.30. The business's 50 day simple moving average is $87.60 and its 200-day simple moving average is $89.93. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive's dividend payout ratio (DPR) is 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.