Madison Asset Management LLC Has $21.22 Million Position in Colgate-Palmolive Company $CL

Key Points

• Madison Asset Management LLC boosted its Colgate-Palmolive stake by 253.5% in the first quarter, ending with 249,020 shares valued at about $21.22 million.
• Wall Street sentiment is generally positive: several firms raised price targets, and the stock currently carries a Moderate Buy consensus with a target of $97.41.
• Colgate-Palmolive beat earnings expectations in its latest quarter, reporting $0.97 EPS on $5.32 billion in revenue, and it recently объявed a $0.53 quarterly dividend yielding about 2.3%.

Madison Asset Management LLC grew its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 253.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,020 shares of the company's stock after acquiring an additional 178,583 shares during the period. Madison Asset Management LLC's holdings in Colgate-Palmolive were worth $21,224,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CL. Puzo Michael J acquired a new position in Colgate-Palmolive in the 1st quarter worth about $265,000. Cassaday & Co Wealth Management LLC grew its stake in shares of Colgate-Palmolive by 5.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 4,264 shares of the company's stock valued at $363,000 after buying an additional 208 shares in the last quarter. AlTi Global Inc. increased its holdings in Colgate-Palmolive by 1.3% in the first quarter. AlTi Global Inc. now owns 17,778 shares of the company's stock worth $1,515,000 after buying an additional 227 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Colgate-Palmolive by 315.7% in the first quarter. Meeder Asset Management Inc. now owns 557 shares of the company's stock worth $47,000 after buying an additional 423 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in Colgate-Palmolive by 2.9% during the first quarter. Meeder Advisory Services Inc. now owns 35,296 shares of the company's stock valued at $3,008,000 after acquiring an additional 984 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CL. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Barclays raised their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. UBS Group increased their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $102.00 price target on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.41.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $91.93 on Tuesday. The firm has a market capitalization of $73.56 billion, a PE ratio of 35.77, a PEG ratio of 4.90 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm's fifty day simple moving average is $90.56 and its 200 day simple moving average is $88.69.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The business's revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive's payout ratio is currently 82.49%.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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