Tocqueville Asset Management L.P. Decreases Stake in Colgate-Palmolive Company $CL

Key Points

• Tocqueville Asset Management L.P. has decreased its holdings in Colgate-Palmolive Company by 0.6% during the first quarter, now owning 571,639 shares worth approximately $53.56 million.
• Colgate-Palmolive reported a quarterly EPS of $0.92, exceeding analysts' expectations, with revenues totaling $5.11 billion, marking a 1.0% increase over the previous year.
• The company recently paid a quarterly dividend of $0.52 per share, representing a 2.4% yield and a payout ratio of 58.43%.

Tocqueville Asset Management L.P. reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 0.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 571,639 shares of the company's stock after selling 3,451 shares during the period. Colgate-Palmolive makes up approximately 0.9% of Tocqueville Asset Management L.P.'s holdings, making the stock its 25th biggest holding. Tocqueville Asset Management L.P. owned 0.07% of Colgate-Palmolive worth $53,563,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in Colgate-Palmolive by 1,913.3% in the first 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. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $31,000. Accredited Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth about $36,000. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. UBS Group cut their price objective 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. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. 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. Finally, Morgan Stanley decreased their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price of $98.92.

Colgate-Palmolive Trading Up 1.7%

Shares of CL traded up $1.4590 during mid-day trading on Tuesday, reaching $85.7190. 4,548,147 shares of the company were exchanged, compared to its average volume of 4,839,570. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30. The business has a 50 day simple moving average of $88.07 and a two-hundred day simple moving average of $89.98. The stock has a market capitalization of $69.28 billion, a PE ratio of 23.08, a PEG ratio of 4.38 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate 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 net margin of 14.55% and a return on equity of 377.63%. The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. On average, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

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.