Mediolanum International Funds Ltd Has $32.26 Million Holdings in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Mediolanum International Funds Ltd boosted its shares in Colgate-Palmolive by 73.9%, acquiring an additional 147,696 shares to reach a total of 347,549 shares valued at approximately $32.26 million.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52, with a payout ratio of 58.76%, representing an annualized yield of 2.37%.
• The company reported $0.91 earnings per share (EPS) for the latest quarter, exceeding expectations of $0.86, although revenue experienced a 3.0% decline from the previous year.

Mediolanum International Funds Ltd lifted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 73.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 347,549 shares of the company's stock after purchasing an additional 147,696 shares during the period. Mediolanum International Funds Ltd's holdings in Colgate-Palmolive were worth $32,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Phoenix Financial Ltd. grew its holdings in Colgate-Palmolive by 24.5% during the 1st quarter. Phoenix Financial Ltd. now owns 3,218 shares of the company's stock worth $302,000 after acquiring an additional 633 shares during the period. Stevens Capital Management LP grew its holdings in Colgate-Palmolive by 113.7% during the 1st quarter. Stevens Capital Management LP now owns 9,518 shares of the company's stock worth $892,000 after acquiring an additional 5,064 shares during the period. Caliber Wealth Management LLC KS acquired a new stake in Colgate-Palmolive during the 1st quarter worth $280,000. Neo Ivy Capital Management acquired a new stake in Colgate-Palmolive during the 1st quarter worth $942,000. Finally, Assetmark Inc. grew its holdings in Colgate-Palmolive by 3.3% during the 1st quarter. Assetmark Inc. now owns 16,825 shares of the company's stock worth $1,577,000 after acquiring an additional 545 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CL. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group reduced their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Finally, Citigroup lifted their price target on shares of 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, seven have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $100.77.

Colgate-Palmolive Stock Down 0.3%

NYSE:CL traded down $0.27 on Wednesday, hitting $86.59. 1,510,791 shares of the company's stock were exchanged, compared to its average volume of 5,202,563. The firm has a 50-day moving average price of $90.03 and a 200-day moving average price of $90.36. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a market cap of $70.17 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 4.46 and a beta of 0.37.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.40%. Colgate-Palmolive's payout ratio is 58.76%.

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.