NewEdge Advisors LLC Buys 58,495 Shares of Colgate-Palmolive Company $CL

Key Points

• NewEdge Advisors LLC increased its stake in Colgate-Palmolive Company by 14.1%, now holding 473,663 shares valued at approximately $44.38 million.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding expectations, with a 1% year-over-year revenue increase to $5.11 billion.
• The company recently announced a quarterly dividend of $0.52 per share, with an annual yield of 2.5% and a dividend payout ratio of 58.43%.

NewEdge Advisors LLC lifted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,663 shares of the company's stock after buying an additional 58,495 shares during the quarter. NewEdge Advisors LLC owned approximately 0.06% of Colgate-Palmolive worth $44,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CL. Price T Rowe Associates Inc. MD raised its stake in Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares in the last quarter. Nuveen LLC purchased a new stake in Colgate-Palmolive during the first quarter valued at about $217,593,000. Goldman Sachs Group Inc. raised its position in Colgate-Palmolive by 34.5% during the first 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 in the last quarter. Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after acquiring an additional 1,816,865 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Colgate-Palmolive by 45.0% in 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 last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. UBS Group dropped their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Citigroup reduced their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Barclays boosted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.92.

Colgate-Palmolive Trading Down 1.2%

NYSE:CL traded down $0.98 during trading hours on Monday, hitting $84.15. The company had a trading volume of 3,971,439 shares, compared to its average volume of 4,512,389. The company has a market capitalization of $68.01 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 4.43 and a beta of 0.35. The stock has a 50-day moving average price of $86.61 and a 200 day moving average price of $89.73. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $107.82. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping 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 in the previous year, the firm posted $0.91 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were paid a $0.52 dividend. The ex-dividend date was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive's payout ratio is presently 58.43%.

About Colgate-Palmolive

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.