Arrowstreet Capital Limited Partnership Boosts Position in Colgate-Palmolive Company $CL

Arrowstreet Capital Limited Partnership raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 2.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,584,998 shares of the company’s stock after acquiring an additional 124,369 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Colgate-Palmolive were worth $476,009,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the period. TD Capital Management LLC raised its stake in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management lifted its position in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 1.8%

NYSE:CL opened at $89.98 on Friday. The firm has a market capitalization of $72.00 billion, a P/E ratio of 35.01, a P/E/G ratio of 4.83 and a beta of 0.33. The business has a 50 day simple moving average of $90.72 and a 200 day simple moving average of $88.95. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month 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.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $0.91 EPS. Colgate-Palmolive’s revenue was up 8.4% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Analysts Set New Price Targets

Several research firms recently commented on CL. Citigroup boosted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, Barclays upped their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Company 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.