SageView Advisory Group LLC Acquires New Position in Colgate-Palmolive Company $CL

Key Points

• SageView Advisory Group LLC has invested $787,000 in Colgate-Palmolive Company by purchasing 8,399 shares during the first quarter.
• Colgate-Palmolive recently reported earnings of $0.92 per share, exceeding estimates, with revenue of $5.11 billion for the quarter, marking a year-over-year increase of 1.0%.
• The company has declared a quarterly dividend of $0.52 per share, with a dividend yield of 2.5%, set to be paid on November 14th to investors of record.

SageView Advisory Group LLC bought a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,399 shares of the company's stock, valued at approximately $787,000.

A number of other hedge funds also recently bought and sold shares of CL. Westend Capital Management LLC lifted its stake in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth $29,000. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth $31,000. Finally, Bernard Wealth Management Corp. purchased a new position in Colgate-Palmolive in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded down $0.71 during midday trading on Friday, hitting $83.35. 3,169,120 shares of the company's stock were exchanged, compared to its average volume of 4,435,723. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a market cap of $67.37 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 4.33 and a beta of 0.35. Colgate-Palmolive Company has a 12-month low of $82.29 and a 12-month high of $106.26. The firm's 50 day simple moving average is $85.95 and its 200 day simple moving average is $89.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive's payout ratio is presently 58.43%.

Analysts Set New Price Targets

A number of analysts have issued reports on CL shares. Barclays lifted their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their price objective 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. Wells Fargo & Company lowered their target price 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 reduced their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, Citigroup dropped their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.