Morningstar Investment Management LLC Buys 14,607 Shares of Colgate-Palmolive Company $CL

Key Points

• Morningstar Investment Management boosted its stake in Colgate-Palmolive by 29% in the first quarter, buying 14,607 additional shares and bringing its total position to 65,023 shares worth about $5.54 million.
• Colgate-Palmolive reported better-than-expected quarterly earnings, posting $0.97 EPS versus the $0.94 consensus and revenue of $5.32 billion, up 8.4% year over year.
• The company also declared a quarterly dividend of $0.53 per share, equivalent to an annualized yield of 2.3%, while analysts currently maintain a Moderate Buy outlook with an average price target of $97.82.

Morningstar Investment Management LLC increased its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 29.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 65,023 shares of the company's stock after buying an additional 14,607 shares during the period. Morningstar Investment Management LLC's holdings in Colgate-Palmolive were worth $5,542,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Compound Planning Inc. raised its holdings in Colgate-Palmolive by 7.2% in the 1st quarter. Compound Planning Inc. now owns 22,435 shares of the company's stock valued at $1,912,000 after acquiring an additional 1,507 shares during the period. Klingman & Associates LLC lifted its position in Colgate-Palmolive by 4.8% during the first quarter. Klingman & Associates LLC now owns 4,118 shares of the company's stock worth $351,000 after acquiring an additional 188 shares during the last quarter. Modern Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive by 11.3% during the first quarter. Modern Wealth Management LLC now owns 6,674 shares of the company's stock worth $570,000 after acquiring an additional 678 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Colgate-Palmolive by 2.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,584,998 shares of the company's stock worth $476,009,000 after acquiring an additional 124,369 shares during the period. Finally, Liberty One Investment Management LLC grew its position in shares of Colgate-Palmolive by 33.3% in the first quarter. Liberty One Investment Management LLC now owns 68,358 shares of the company's stock valued at $5,826,000 after purchasing an additional 17,062 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

CL opened at $90.74 on Friday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $72.61 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 4.74 and a beta of 0.33. The business's fifty day moving average is $90.77 and its 200-day moving average is $88.96.

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

Colgate-Palmolive Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on CL shares. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the company a "buy" rating in a report on Tuesday, April 21st. Piper Sandler increased their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Citigroup raised their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $97.82.

Colgate-Palmolive Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source