Invesco Ltd. Grows Stake in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Invesco Ltd. increased its stake in Colgate-Palmolive Company by 5.0%, owning approximately 0.85% of the company with shares valued at $643.5 million as of the latest reporting period.
• Colgate-Palmolive reported an earnings per share (EPS) of $0.92 for the last quarter, surpassing estimates and reflecting a 1.0% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.52 per share, representing a yield of 2.5%, with a payout ratio of 58.43%.

Invesco Ltd. lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,867,209 shares of the company's stock after buying an additional 329,291 shares during the period. Invesco Ltd. owned approximately 0.85% of Colgate-Palmolive worth $643,458,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CL. Brighton Jones LLC boosted its position 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 valued at $962,000 after buying an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at $36,000. F M Investments LLC boosted its position in shares of Colgate-Palmolive by 16.5% during the fourth quarter. F M Investments LLC now owns 5,677 shares of the company's stock valued at $516,000 after buying an additional 806 shares during the last quarter. Phoenix Financial Ltd. boosted its position in shares of Colgate-Palmolive by 15.5% during the fourth quarter. Phoenix Financial Ltd. now owns 2,585 shares of the company's stock valued at $235,000 after buying an additional 347 shares during the last quarter. Finally, Scotia Capital Inc. boosted its position in shares of Colgate-Palmolive by 3.3% during the fourth quarter. Scotia Capital Inc. now owns 63,733 shares of the company's stock valued at $5,794,000 after buying an additional 2,028 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CL shares. Barclays raised their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. 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. Morgan Stanley set a $96.00 target price on Colgate-Palmolive and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Citigroup dropped their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Hold" and an average price target of $98.92.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $84.71 on Friday. The stock's 50 day simple moving average is $88.76 and its two-hundred day simple moving average is $90.15. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30. The company has a market cap of $68.46 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 4.41 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.28.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating 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 company 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 firm posted $0.91 EPS. Colgate-Palmolive's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate 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, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.