IFM Investors Pty Ltd Boosts Holdings in Colgate-Palmolive Company $CL

Key Points

• IFM Investors Pty Ltd increased its stake in Colgate-Palmolive by 3.1%, purchasing an additional 4,879 shares, bringing its total holdings to 164,288 shares worth approximately $14.93 million.
• Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, set to be paid on November 14th, which corresponds to an annualized yield of 2.6%.
• Colgate-Palmolive reported quarterly earnings of $0.92 per share, exceeding analyst estimates, with revenue of $5.11 billion for the quarter, a 1% increase from the previous year.

IFM Investors Pty Ltd raised its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,288 shares of the company's stock after purchasing an additional 4,879 shares during the period. IFM Investors Pty Ltd's holdings in Colgate-Palmolive were worth $14,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CL. Westend Capital Management LLC boosted its stake in shares of 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 buying an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after purchasing an additional 287 shares during the last quarter. Saudi Central Bank bought a new position in Colgate-Palmolive during the first quarter worth $29,000. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive during the fourth quarter worth $31,000. Finally, Ransom Advisory Ltd acquired a new stake in Colgate-Palmolive in the first quarter worth $33,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $0.01 during trading on Tuesday, hitting $79.37. 1,132,419 shares of the company were exchanged, compared to its average volume of 5,210,236. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 52-week low of $78.76 and a 52-week high of $104.49. The company has a market cap of $64.15 billion, a PE ratio of 22.30, a P/E/G ratio of 4.22 and a beta of 0.35. The stock has a 50 day moving average of $84.78 and a 200 day moving average of $89.05.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released 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. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given 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 dividend yield of 2.6%. Colgate-Palmolive's payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CL. UBS Group dropped their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Citigroup lowered their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Morgan Stanley lowered their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Wells Fargo & Company lowered their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Company Profile

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.