The Manufacturers Life Insurance Company Acquires 380,340 Shares of Colgate-Palmolive Company $CL

Key Points

• The Manufacturers Life Insurance Company increased its stake in Colgate-Palmolive Company by 42.5%, now owning approximately 1.27 million shares valued at $119.4 million.
• Recent earnings revealed a quarterly revenue of $5.11 billion and earnings per share (EPS) of $0.92, surpassing analysts' expectations.
• Colgate-Palmolive authorized a quarterly dividend of $0.52 per share, resulting in an annualized dividend yield of 2.5%.

The Manufacturers Life Insurance Company lifted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 42.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,274,333 shares of the company's stock after purchasing an additional 380,340 shares during the quarter. The Manufacturers Life Insurance Company owned 0.16% of Colgate-Palmolive worth $119,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of CL. Brighton Jones LLC raised 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 worth $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in Colgate-Palmolive in the 4th quarter worth about $36,000. Boothbay Fund Management LLC raised its position in Colgate-Palmolive by 26.3% in the 4th quarter. Boothbay Fund Management LLC now owns 4,609 shares of the company's stock worth $419,000 after buying an additional 959 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Colgate-Palmolive by 0.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 132,817 shares of the company's stock worth $12,074,000 after buying an additional 494 shares during the last quarter. Finally, DoubleLine ETF Adviser LP raised its position in Colgate-Palmolive by 2.6% in the 4th quarter. DoubleLine ETF Adviser LP now owns 42,596 shares of the company's stock worth $3,872,000 after buying an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded down $0.45 during mid-day trading on Thursday, reaching $83.36. 2,264,052 shares of the company traded hands, compared to its average volume of 5,189,327. The company's 50 day moving average price is $86.90 and its 200-day moving average price is $89.76. The firm has a market cap of $67.37 billion, a PE ratio of 23.41, a PEG ratio of 4.37 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. On average, equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

Analyst Upgrades and Downgrades

CL has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley cut their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Barclays boosted their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and an average price target of $98.92.

Colgate-Palmolive 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.