Lecap Asset Management Ltd. Purchases Shares of 31,696 Colgate-Palmolive Company $CL

Key Points

• Lecap Asset Management Ltd. purchased 31,696 shares of Colgate-Palmolive, valued at approximately $2.88 million, making it the firm's 7th largest position.
• Colgate-Palmolive recently reported an EPS of $0.92 for the last quarter, surpassing estimates and reflecting a 1.0% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.52 per share, translating to an annualized dividend of $2.08 and a yield of 2.6%, with an upcoming ex-dividend date of October 17th.

Lecap Asset Management Ltd. acquired a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,696 shares of the company's stock, valued at approximately $2,881,000. Colgate-Palmolive makes up about 1.0% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 7th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of CL. Cornerstone Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock worth $847,000 after acquiring an additional 110 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company's stock worth $497,000 after acquiring an additional 129 shares in the last quarter. KFG Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 1.5% during the first quarter. KFG Wealth Management LLC now owns 8,835 shares of the company's stock worth $828,000 after acquiring an additional 131 shares in the last quarter. MONECO Advisors LLC raised its position in shares of Colgate-Palmolive by 2.2% in the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company's stock worth $567,000 after buying an additional 133 shares in the last quarter. Finally, Ledyard National Bank raised its position in shares of Colgate-Palmolive by 4.5% in the first quarter. Ledyard National Bank now owns 3,094 shares of the company's stock worth $290,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 1.2%

NYSE:CL opened at $78.95 on Thursday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market capitalization of $63.81 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 4.16 and a beta of 0.34. Colgate-Palmolive Company has a one year low of $78.76 and a one year high of $102.61. The business has a fifty day moving average price of $83.69 and a 200-day moving average price of $88.50.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's payout ratio is currently 58.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CL. Barclays lowered their price objective on Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Citigroup lowered their price target 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. Morgan Stanley decreased their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a report on Thursday, September 25th. Finally, UBS Group cut their price objective 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. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus price target of $97.27.

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.

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