J. Safra Sarasin Holding AG Grows Stock Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• J. Safra Sarasin Holding AG has increased its stake in Colgate-Palmolive by 5.6%, now holding 878,869 shares, which represents 1.5% of its portfolio.
• Colgate-Palmolive's latest earnings report shows a profit of $0.92 per share, surpassing expectations and demonstrating a 1.0% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.52 per share, yielding 2.5%, with the dividend payout ratio currently at 58.76%.

J. Safra Sarasin Holding AG lifted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 878,869 shares of the company's stock after purchasing an additional 46,820 shares during the period. Colgate-Palmolive comprises approximately 1.5% of J. Safra Sarasin Holding AG's portfolio, making the stock its 14th biggest holding. J. Safra Sarasin Holding AG owned about 0.11% of Colgate-Palmolive worth $82,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CL. Deutsche Bank AG raised its position in shares of Colgate-Palmolive by 35.6% in the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Colgate-Palmolive by 45.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock worth $521,250,000 after purchasing an additional 1,727,105 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth about $111,738,000. Renaissance Technologies LLC raised its position in shares of Colgate-Palmolive by 70.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock worth $255,285,000 after purchasing an additional 1,158,060 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Colgate-Palmolive by 10,601.7% in the 1st quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock worth $103,574,000 after purchasing an additional 1,095,050 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CL. JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. UBS Group decreased their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Barclays boosted 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. Finally, Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $100.58.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded down $0.34 during mid-day trading on Friday, reaching $83.51. 9,606,667 shares of the company traded hands, compared to its average volume of 4,901,203. The company's 50 day moving average price is $89.59 and its 200-day moving average price is $90.31. The firm has a market cap of $67.68 billion, a PE ratio of 23.46, a PEG ratio of 4.31 and a beta of 0.35. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.43 and a quick ratio of 0.28. Colgate-Palmolive Company has a 52 week low of $82.70 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share 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 business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is 58.76%.

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.