Lazard Freres Gestion S.A.S. Raises Stock Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Lazard Freres Gestion S.A.S. increased its holdings in Colgate-Palmolive by 1.0%, owning approximately 461,219 shares worth $43.2 million at the end of the last quarter.
• Analysts have mixed ratings for Colgate-Palmolive, with one sell rating, seven hold ratings, and seven buy ratings, while the current consensus price target stands at $100.77.
• The company announced a dividend of $0.52 per share, which will be paid on August 15th, representing an annualized yield of 2.37%.

Lazard Freres Gestion S.A.S. grew its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 461,219 shares of the company's stock after buying an additional 4,518 shares during the period. Lazard Freres Gestion S.A.S. owned approximately 0.06% of Colgate-Palmolive worth $43,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG boosted its position in Colgate-Palmolive by 35.6% in the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after buying an additional 1,816,865 shares during the period. Diamond Hill Capital Management Inc. boosted its position in 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 valued at $521,250,000 after buying an additional 1,727,105 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Colgate-Palmolive in the 4th quarter valued at about $111,738,000. Renaissance Technologies LLC boosted its position in Colgate-Palmolive by 70.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock valued at $255,285,000 after buying an additional 1,158,060 shares during the period. Finally, GAMMA Investing LLC raised its holdings 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 valued at $103,574,000 after purchasing an additional 1,095,050 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

NYSE:CL traded down $1.10 during trading hours on Wednesday, reaching $85.76. 4,626,850 shares of the company were exchanged, compared to its average volume of 5,224,712. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. The stock's 50-day moving average is $90.03 and its 200-day moving average is $90.36. The firm has a market cap of $69.50 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 4.46 and a beta of 0.37. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Barclays boosted their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $100.77.

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.