Intech Investment Management LLC Grows Position in Colgate-Palmolive Company $CL

Key Points

• Intech Investment Management LLC has increased its stake in Colgate-Palmolive by 8.5%, acquiring an additional 46,469 shares, bringing its total holdings to 592,020 shares, valued at approximately $55.5 million.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding analyst estimates of $0.89, alongside a revenue of $5.11 billion.
• Analysts have mixed views on the stock, with seven giving it a "Buy" rating and others reducing their price targets, leading to an average target price of $98.00 and a rating of "Moderate Buy."

Intech Investment Management LLC increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 592,020 shares of the company's stock after purchasing an additional 46,469 shares during the quarter. Colgate-Palmolive accounts for approximately 0.6% of Intech Investment Management LLC's investment portfolio, making the stock its 23rd largest holding. Intech Investment Management LLC owned 0.07% of Colgate-Palmolive worth $55,472,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Personal CFO Solutions LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $285,000. Vision Capital Management Inc. purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $322,000. Autumn Glory Partners LLC boosted 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 acquiring an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Colgate-Palmolive in the first quarter worth approximately $2,166,000. Finally, Penserra Capital Management LLC boosted its stake 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 worth $997,000 after acquiring an additional 8,515 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.8%

CL traded down $0.71 during mid-day trading on Friday, hitting $83.35. 3,169,120 shares of the stock were exchanged, compared to its average volume of 4,484,784. The firm's fifty day moving average is $85.95 and its two-hundred day moving average is $89.54. Colgate-Palmolive Company has a 1-year low of $82.29 and a 1-year high of $106.26. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The company has a market cap of $67.37 billion, a PE ratio of 23.41, a PEG ratio of 4.37 and a beta of 0.35.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared 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 is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio is 58.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CL. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. Citigroup lowered their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. UBS Group lowered their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Barclays upped their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive 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.