Wealthfront Advisers LLC Raises Position in Colgate-Palmolive Company $CL

Key Points

• Wealthfront Advisers LLC increased its stake in Colgate-Palmolive by 9.2% in the first quarter, bringing its holdings to 263,378 shares valued at about $22.4 million.
• Wall Street remains broadly constructive on the stock, with 12 analysts rating it a Buy, seven a Hold, and an average consensus target price of $97.41.
• Colgate-Palmolive beat earnings expectations in its latest quarter, reporting $0.97 EPS versus $0.94 expected, while revenue rose 8.4% year over year to $5.32 billion. The company also declared a quarterly dividend of $0.53 per share, yielding about 2.3% annually.

Wealthfront Advisers LLC raised its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 263,378 shares of the company's stock after buying an additional 22,156 shares during the period. Wealthfront Advisers LLC's holdings in Colgate-Palmolive were worth $22,448,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in shares of Colgate-Palmolive by 35.3% in the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company's stock valued at $37,110,000 after buying an additional 122,634 shares during the last quarter. GAMMA Investing LLC boosted its position in Colgate-Palmolive by 114.2% during the fourth quarter. GAMMA Investing LLC now owns 23,329 shares of the company's stock worth $1,843,000 after acquiring an additional 12,437 shares during the last quarter. Avior Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth about $1,135,000. Flputnam Investment Management Co. grew its stake in Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company's stock valued at $15,881,000 after acquiring an additional 13,804 shares in the last quarter. Finally, AIA Group Ltd acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at about $2,113,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CL shares. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Bank of America dropped their price target on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a research report on Friday, April 10th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. TD Cowen reiterated a "hold" rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Finally, UBS Group boosted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.41.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $94.02 on Friday. The firm has a 50 day simple moving average of $90.35 and a 200-day simple moving average of $88.51. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 4.82 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is 82.49%.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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