Assenagon Asset Management S.A. Increases Position in Colgate-Palmolive Company $CL

Assenagon Asset Management S.A. grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 11.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 711,179 shares of the company’s stock after purchasing an additional 71,967 shares during the period. Assenagon Asset Management S.A.’s holdings in Colgate-Palmolive were worth $60,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Faithward Advisors LLC raised its holdings in Colgate-Palmolive by 9.9% in the first quarter. Faithward Advisors LLC now owns 4,599 shares of the company’s stock worth $392,000 after buying an additional 416 shares during the last quarter. Cidel Asset Management Inc. lifted its position in Colgate-Palmolive by 6.5% in the 1st quarter. Cidel Asset Management Inc. now owns 320,907 shares of the company’s stock valued at $27,351,000 after acquiring an additional 19,720 shares in the last quarter. Coerente Capital Management lifted its position in Colgate-Palmolive by 0.7% in the 1st quarter. Coerente Capital Management now owns 258,810 shares of the company’s stock valued at $22,058,000 after acquiring an additional 1,796 shares in the last quarter. Essex Bank boosted its stake in Colgate-Palmolive by 1.8% during the 1st quarter. Essex Bank now owns 17,026 shares of the company’s stock valued at $1,451,000 after purchasing an additional 305 shares during the last quarter. Finally, Webster Bank N. A. increased its holdings in shares of Colgate-Palmolive by 20.8% in the 1st quarter. Webster Bank N. A. now owns 1,277 shares of the company’s stock worth $109,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $91.06 on Friday. The business’s fifty day moving average is $87.90 and its 200 day moving average is $87.01. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market capitalization of $72.86 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 4.84 and a beta of 0.33.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CL. Barclays upped their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Bank of America dropped their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

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.