Baker Avenue Asset Management LP Acquires 6,072 Shares of Colgate-Palmolive Company $CL

Baker Avenue Asset Management LP boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 104.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,887 shares of the company’s stock after buying an additional 6,072 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Colgate-Palmolive were worth $939,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Providence Capital Advisors LLC bought a new position in Colgate-Palmolive during the third quarter worth about $5,373,000. ProShare Advisors LLC grew its holdings in Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares during the period. Envestnet Asset Management Inc. grew its holdings in Colgate-Palmolive by 18.0% during the third quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock worth $63,996,000 after purchasing an additional 122,202 shares during the period. Citigroup Inc. grew its holdings in Colgate-Palmolive by 43.7% during the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after purchasing an additional 409,710 shares during the period. Finally, GAMMA Investing LLC grew its holdings 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 purchasing an additional 12,437 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL stock opened at $90.26 on Friday. The stock has a market capitalization of $72.22 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 4.76 and a beta of 0.31. The company’s 50-day moving average is $86.29 and its 200-day moving average is $85.64. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data 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 company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities research analysts expect that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CL. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. TD Cowen restated a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Jefferies Financial Group boosted their price objective on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Finally, Barclays boosted their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

About Colgate-Palmolive

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.