Barings LLC Acquires 8,494 Shares of Colgate-Palmolive (CL)
Barings LLC lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,786 shares of the company’s stock after acquiring an additional 8,494 shares during the quarter. Barings LLC’s holdings in Colgate-Palmolive were worth $11,522,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Rainier Group Investment Advisory LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter valued at $107,000. Quadrant Capital Group LLC increased its stake in Colgate-Palmolive by 142.4% during the 1st quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock worth $108,000 after buying an additional 941 shares during the period. Centerpoint Advisors LLC purchased a new stake in Colgate-Palmolive during the 1st quarter worth $112,000. Princeton Capital Management LLC purchased a new stake in Colgate-Palmolive during the 1st quarter worth $117,000. Finally, Kaizen Advisory LLC increased its stake in Colgate-Palmolive by 134.8% during the 2nd quarter. Kaizen Advisory LLC now owns 1,979 shares of the company’s stock worth $128,000 after buying an additional 1,136 shares during the period. Institutional investors and hedge funds own 73.86% of the company’s stock.
Several equities research analysts recently issued reports on CL shares. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, April 20th. UBS Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $75.00 in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, April 17th. Argus raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Friday, May 25th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $72.00 price target on shares of Colgate-Palmolive in a research note on Thursday, May 24th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.14.
CL opened at $67.38 on Tuesday. The stock has a market capitalization of $58.57 billion, a PE ratio of 23.48, a P/E/G ratio of 3.02 and a beta of 0.75. Colgate-Palmolive has a 1-year low of $61.28 and a 1-year high of $77.91. The company has a quick ratio of 0.28, a current ratio of 1.06 and a debt-to-equity ratio of -34.49.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 27th. The company reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. equities analysts expect that Colgate-Palmolive will post 3.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, July 17th. Colgate-Palmolive’s payout ratio is currently 58.54%.
Colgate-Palmolive announced that its board has authorized a stock buyback program on Monday, June 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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