National Pension Service Buys 123,814 Shares of Colgate-Palmolive Company $CL

Key Points

• The National Pension Service increased its holdings in Colgate-Palmolive Company by 6.7%, now owning 1,974,063 shares valued at $184.97 million.
• Colgate-Palmolive recently reported $0.92 earnings per share, exceeding analyst expectations of $0.89, along with a 14.55% net margin.
• The company declared a quarterly dividend of $0.52, translating to a 2.4% dividend yield and a payout ratio of 58.43%.

National Pension Service boosted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,974,063 shares of the company's stock after purchasing an additional 123,814 shares during the period. National Pension Service owned about 0.24% of Colgate-Palmolive worth $184,970,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CL. Nuveen LLC acquired a new stake in Colgate-Palmolive in the 1st quarter valued at about $217,593,000. Goldman Sachs Group Inc. lifted its stake in Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the last quarter. Deutsche Bank AG lifted its stake in Colgate-Palmolive by 35.6% in the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after purchasing an additional 1,816,865 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Colgate-Palmolive by 45.0% during the first 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 last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth approximately $111,738,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CL shares. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Citigroup cut their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Barclays raised their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of "Hold" and a consensus target price of $98.92.

Colgate-Palmolive Price Performance

CL traded down $0.77 during trading on Monday, hitting $84.30. 3,906,646 shares of the stock traded hands, compared to its average volume of 5,229,700. Colgate-Palmolive Company has a twelve month low of $82.40 and a twelve month high of $109.30. The company has a market cap of $68.13 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 4.42 and a beta of 0.35. 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 business has a 50 day moving average price of $88.21 and a 200 day moving average price of $89.99.

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

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.43%.

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.