Petrus Trust Company LTA Invests $315,000 in Colgate-Palmolive Company $CL

Key Points

• Petrus Trust Company LTA acquired 3,364 shares of Colgate-Palmolive Company, valued at approximately $315,000, during the first quarter of the year.
• The stock has experienced mixed analyst ratings, with target prices ranging from $83.00 to $106.00 and an average target price of $98.00, reflecting a "Moderate Buy" consensus.
• Colgate-Palmolive recently reported $5.11 billion in quarterly revenue, slightly exceeding expectations, while maintaining a dividend yield of 2.5%.

Petrus Trust Company LTA acquired a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,364 shares of the company's stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Westend Capital Management LLC increased its position in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $29,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $37,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL traded down $0.71 on Friday, hitting $83.35. 3,169,120 shares of the stock traded hands, compared to its average volume of 4,435,723. The business's fifty day moving average is $85.95 and its two-hundred day moving average is $89.54. Colgate-Palmolive Company has a 12 month low of $82.29 and a 12 month high of $106.26. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 4.33 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the company earned $0.91 earnings per share. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CL shares. Morgan Stanley decreased their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. decreased their price target on 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 increased their price target 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. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Finally, UBS Group reduced their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.00.

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.