SCS Capital Management LLC Acquires Shares of 21,084 Colgate-Palmolive Company $CL

Key Points

• SCS Capital Management LLC invested approximately $1.98 million in Colgate-Palmolive Company, acquiring 21,084 shares during the first quarter.
• Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, translating to an annualized yield of 2.5% with a payout ratio of 58.43%.
• Analysts have varying ratings, with a consensus target price of $98.00 and seven analysts recommending a "Buy" for the stock.

SCS Capital Management LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 21,084 shares of the company's stock, valued at approximately $1,976,000.

Several other institutional investors and hedge funds have also modified their holdings of CL. Brighton Jones LLC grew its position in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after purchasing an additional 450 shares during the period. Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive during the 4th quarter worth approximately $36,000. Focus Partners Wealth boosted its position in Colgate-Palmolive by 22.7% during the 4th quarter. Focus Partners Wealth now owns 179,636 shares of the company's stock worth $16,331,000 after acquiring an additional 33,219 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Colgate-Palmolive during the 4th quarter worth approximately $3,326,000. Finally, Logan Capital Management Inc. boosted its position in Colgate-Palmolive by 49.0% during the 4th quarter. Logan Capital Management Inc. now owns 49,335 shares of the company's stock worth $4,485,000 after acquiring an additional 16,226 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

CL traded down $0.71 during trading hours on Friday, reaching $83.35. The company's stock had a trading volume of 3,169,120 shares, compared to its average volume of 4,484,784. Colgate-Palmolive Company has a 52 week low of $82.29 and a 52 week high of $106.26. The company's 50-day moving average is $85.95 and its 200-day moving average is $89.54. 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 firm has a market cap of $67.37 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 4.37 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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CL shares. UBS Group reduced their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Barclays upped their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup dropped their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Finally, Morgan Stanley dropped their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Company 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.