Quantinno Capital Management LP Boosts Position in Colgate-Palmolive Company $CL

Key Points

• Quantinno Capital Management increased its Colgate-Palmolive stake by 14.5% in the first quarter, adding 182,970 shares to own 1.45 million shares valued at approximately $123.5 million. Institutional investors collectively hold 80.41% of the company.
• Colgate-Palmolive reported stronger-than-expected quarterly results, with EPS of $0.97 versus the $0.94 consensus and revenue of $5.32 billion, up 8.4% year over year.
• The company declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 payout and a 2.3% dividend yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.82.

Quantinno Capital Management LP increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,449,131 shares of the company's stock after acquiring an additional 182,970 shares during the quarter. Quantinno Capital Management LP owned approximately 0.18% of Colgate-Palmolive worth $123,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas grew its position in Colgate-Palmolive by 35.3% in the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company's stock worth $37,110,000 after acquiring an additional 122,634 shares during the period. Flputnam Investment Management Co. grew its holdings in shares of Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company's stock worth $15,881,000 after purchasing an additional 13,804 shares during the period. Caprock Group LLC increased its position in shares of Colgate-Palmolive by 116.5% during the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company's stock worth $5,121,000 after purchasing an additional 34,879 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Colgate-Palmolive by 10.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,443 shares of the company's stock valued at $17,498,000 after buying an additional 21,109 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Colgate-Palmolive by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company's stock valued at $625,758,000 after buying an additional 29,876 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 1.4%

Shares of NYSE CL opened at $92.00 on Tuesday. The stock has a market cap of $73.62 billion, a P/E ratio of 35.80, a PEG ratio of 4.78 and a beta of 0.33. The business's fifty day simple moving average is $90.82 and its 200-day simple moving average is $89.15. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. Bank of America decreased their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating on the stock in a report on Friday, April 10th. JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $96.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 4th. Sanford C. Bernstein began coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They set a "market perform" rating and a $96.00 price target for the company. Finally, Piper Sandler lifted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average target price of $97.82.

About Colgate-Palmolive

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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.