Colgate-Palmolive Company $CL Shares Purchased by AMI Asset Management Corp

AMI Asset Management Corp boosted its stake in Colgate-Palmolive Company (NYSE:CL) by 17.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 498,079 shares of the company’s stock after acquiring an additional 75,262 shares during the period. Colgate-Palmolive makes up approximately 2.7% of AMI Asset Management Corp’s portfolio, making the stock its 14th largest position. AMI Asset Management Corp’s holdings in Colgate-Palmolive were worth $42,451,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CL shares. TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Barclays boosted their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a research note on Thursday, June 11th. They issued a “market perform” rating and a $96.00 target price on the stock. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Bank of America decreased their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $92.26 on Tuesday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a market capitalization of $73.83 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 4.85 and a beta of 0.33. 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 firm’s fifty day moving average price is $88.24 and its 200 day moving average price is $87.23.

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 company had revenue of $5.32 billion during 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 firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. On average, research analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

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.