Nissay Asset Management Corp Japan ADV Boosts Stake in Colgate-Palmolive Company $CL

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Colgate-Palmolive Company by 6.4% in Q1, acquiring an additional 10,077 shares, bringing its total holdings to 166,621 shares valued at $15.6 million.
• Colgate-Palmolive's latest earnings report showed an EPS of $0.92, surpassing estimates, with revenue of $5.11 billion, reflecting a 1% year-over-year increase.
• The company announced a quarterly dividend of $0.52, resulting in a 2.4% yield, with a payout ratio of approximately 58.43%.

Nissay Asset Management Corp Japan ADV lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,621 shares of the company's stock after purchasing an additional 10,077 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Colgate-Palmolive were worth $15,612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Colgate-Palmolive by 0.6% during the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock worth $7,660,749,000 after purchasing an additional 455,198 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Colgate-Palmolive by 18.3% in the 1st 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 acquiring an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 2,045,191 shares during the last quarter. Deutsche Bank AG raised its holdings in Colgate-Palmolive by 3.7% in the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock valued at $672,447,000 after acquiring an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Colgate-Palmolive by 2.6% in the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company's stock valued at $653,761,000 after acquiring an additional 177,833 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 1.2%

Shares of Colgate-Palmolive stock traded down $0.98 during mid-day trading on Monday, hitting $84.15. The stock had a trading volume of 3,971,439 shares, compared to its average volume of 4,512,389. The firm has a 50-day moving average of $86.61 and a two-hundred day moving average of $89.73. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $107.82. 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 $68.01 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 4.43 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share 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 analysts' expectations of $5.03 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CL. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. UBS Group cut their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. 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 report on Monday, August 4th. Barclays increased their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, 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 report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.92.

Colgate-Palmolive 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.