Towercrest Capital Management Acquires 59,345 Shares of Colgate-Palmolive Company $CL

Towercrest Capital Management lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 1,243.6% in the 3rd quarter, Holdings Channel reports. The firm owned 64,117 shares of the company’s stock after acquiring an additional 59,345 shares during the period. Towercrest Capital Management’s holdings in Colgate-Palmolive were worth $5,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CL. Westside Investment Management Inc. lifted its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after buying an additional 155 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $39,000. Atticus Wealth Management LLC lifted its holdings in shares of Colgate-Palmolive by 156.8% during the 2nd quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock worth $44,000 after acquiring an additional 298 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Colgate-Palmolive in the second quarter worth $44,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.7%

Shares of CL stock opened at $81.44 on Monday. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60. The business has a 50-day moving average of $78.71 and a 200 day moving average of $81.91. The stock has a market capitalization of $65.64 billion, a PE ratio of 22.81, a P/E/G ratio of 5.52 and a beta of 0.30. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lowered their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 4th. Evercore ISI decreased their price objective on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Citigroup dropped their target price on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research report on Tuesday, December 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.19.

About Colgate-Palmolive

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.