Maple Capital Management Inc. Boosts Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Maple Capital Management Inc. has increased its stake in Colgate-Palmolive Company by 11.9% during the first quarter, owning 141,870 shares now valued at approximately $13.3 million.
• Several institutional investors have also adjusted their positions, with notable increases from Brighton Jones LLC and NorthRock Partners LLC, contributing to institutional ownership of 80.41% of the company's stock.
• Colgate-Palmolive's recent earnings report beat analysts' expectations, reporting $0.92 earnings per share and a 2.5% annualized dividend yield, with a quarterly dividend of $0.52 scheduled for distribution on November 14th.

Maple Capital Management Inc. boosted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 11.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 141,870 shares of the company's stock after acquiring an additional 15,138 shares during the quarter. Maple Capital Management Inc.'s holdings in Colgate-Palmolive were worth $13,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD lifted its position in Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Nuveen LLC acquired a new stake in Colgate-Palmolive during the 1st quarter worth about $217,593,000. Goldman Sachs Group Inc. lifted its position in Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after acquiring an additional 2,045,191 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock worth $521,250,000 after acquiring an additional 1,727,105 shares during the period. Finally, GAMMA Investing LLC lifted its position in Colgate-Palmolive by 10,601.7% during the 1st quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock worth $103,574,000 after acquiring an additional 1,095,050 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded down $0.71 during trading on Friday, reaching $83.35. 3,169,120 shares of the company's stock traded hands, compared to its average volume of 4,435,723. Colgate-Palmolive Company has a fifty-two week low of $82.29 and a fifty-two week high of $106.26. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The firm has a market cap of $67.37 billion, a PE ratio of 23.41, a P/E/G ratio of 4.33 and a beta of 0.35. The company has a 50-day simple moving average of $85.95 and a 200-day simple moving average of $89.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same period last year, the firm earned $0.91 EPS. The company's quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.43%.

Analysts Set New Price Targets

CL has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Citigroup reduced their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Morgan Stanley reduced their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, UBS Group reduced their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average target price of $98.00.

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.