Vanguard Group Inc. Has $7.66 Billion Stock Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Vanguard Group Inc. has increased its stake in Colgate-Palmolive Company to over $7.66 billion, owning approximately 10.09% of the shares after acquiring an additional 455,198 during the first quarter.
• Colgate-Palmolive reported a quarterly EPS of $0.92, exceeding analyst expectations, alongside a revenue of $5.11 billion for the quarter.
• The company has declared a quarterly dividend of $0.52 per share, indicating a 2.5% yield based on an annualized payout of $2.08.

Vanguard Group Inc. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,758,257 shares of the company's stock after buying an additional 455,198 shares during the quarter. Vanguard Group Inc. owned about 10.09% of Colgate-Palmolive worth $7,660,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC increased its position in shares of 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 purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC increased its position in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after purchasing an additional 287 shares during the period. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter worth $31,000. Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive in the fourth quarter worth $33,000. Finally, Accredited Wealth Management LLC bought a new position in Colgate-Palmolive in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $84.58 on Thursday. The stock's 50 day moving average is $89.07 and its 200 day moving average is $90.18. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.28. The firm has a market cap of $68.36 billion, a P/E ratio of 23.76, a P/E/G ratio of 4.32 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $82.40 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.43%.

Analyst Ratings Changes

A number of research analysts have issued reports on CL shares. Citigroup decreased their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday. UBS Group decreased their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Morgan Stanley decreased their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.

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