Procyon Advisors LLC Purchases 11,277 Shares of Colgate-Palmolive Company $CL

Key Points

• Procyon Advisors LLC increased its Colgate-Palmolive stake by 27.9% in the first quarter, buying 11,277 shares and bringing its total holding to 51,721 shares valued at about $4.41 million.
• Colgate-Palmolive beat first-quarter expectations, reporting $0.97 EPS versus $0.94 estimated and revenue of $5.32 billion versus $5.22 billion expected. Revenue rose 8.4% year over year.
• The company declared a quarterly dividend of $0.53 per share, payable August 14, for an annualized yield of 2.3%. Wall Street’s consensus remains a “Moderate Buy,” with an average price target of $96.29.

Procyon Advisors LLC raised its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 27.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,721 shares of the company's stock after buying an additional 11,277 shares during the quarter. Procyon Advisors LLC's holdings in Colgate-Palmolive were worth $4,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CL. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after acquiring an additional 150 shares during the period. TD Capital Management LLC raised its stake in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management boosted its holdings in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $92.31 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The stock has a market cap of $73.86 billion, a PE ratio of 35.92, a PEG ratio of 4.86 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The business has a 50-day simple moving average of $89.91 and a two-hundred day simple moving average of $88.17.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. Analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CL. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Royal Bank Of Canada restated an "outperform" rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Bank of America dropped their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a report on Friday, April 10th. The Goldman Sachs Group reissued a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Colgate-Palmolive 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.

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