Tiverton Asset Management LLC Purchases 2,133 Shares of Colgate-Palmolive (CL)
Tiverton Asset Management LLC lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,531 shares of the company’s stock after purchasing an additional 2,133 shares during the period. Tiverton Asset Management LLC’s holdings in Colgate-Palmolive were worth $748,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Colgate-Palmolive by 3.0% in the first quarter. BlackRock Inc. now owns 53,953,299 shares of the company’s stock worth $3,867,373,000 after buying an additional 1,592,608 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Colgate-Palmolive by 11.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 32,560,326 shares of the company’s stock worth $2,110,235,000 after buying an additional 3,397,667 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Colgate-Palmolive by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after buying an additional 1,596,825 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Colgate-Palmolive by 11.3% in the first quarter. Wells Fargo & Company MN now owns 9,886,686 shares of the company’s stock worth $708,678,000 after buying an additional 1,003,612 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Colgate-Palmolive by 45.7% in the first quarter. First Eagle Investment Management LLC now owns 7,830,595 shares of the company’s stock worth $561,297,000 after buying an additional 2,455,839 shares during the last quarter. 74.74% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on CL. ValuEngine upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Wells Fargo & Co reiterated a “hold” rating and set a $64.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 27th. Macquarie lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $74.00 to $65.00 in a research note on Monday, July 30th. Citigroup lowered their target price on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, July 31st. Finally, Barclays set a $64.00 target price on shares of Colgate-Palmolive and gave the company a “hold” rating in a research note on Monday, July 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $72.14.
Colgate-Palmolive stock opened at $66.24 on Friday. The stock has a market cap of $57.95 billion, a PE ratio of 23.08, a PEG ratio of 2.99 and a beta of 0.75. The company has a debt-to-equity ratio of -34.49, a current ratio of 1.06 and a quick ratio of 0.74. Colgate-Palmolive has a one year low of $61.28 and a one year high of $77.91.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 27th. The company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. equities research analysts predict that Colgate-Palmolive will post 3.02 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Wednesday, July 18th were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, July 17th. This represents a $1.68 annualized dividend and a dividend yield of 2.54%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.
Colgate-Palmolive announced that its board has authorized a stock repurchase 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 usually a sign that the company’s leadership believes its stock is 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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