LGT Fund Management Co Ltd. Buys 6,630 Shares of Colgate-Palmolive Company $CL

LGT Fund Management Co Ltd. grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 216.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,700 shares of the company’s stock after buying an additional 6,630 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Colgate-Palmolive were worth $827,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global Assets Advisory LLC bought a new position in Colgate-Palmolive in the first quarter valued at about $51,000. Castleview Partners LLC acquired a new position in shares of Colgate-Palmolive in the first quarter valued at approximately $387,000. Diversify Wealth Management LLC increased its stake in shares of Colgate-Palmolive by 41.1% in the first quarter. Diversify Wealth Management LLC now owns 11,446 shares of the company’s stock valued at $967,000 after buying an additional 3,336 shares during the period. Valmark Advisers Inc. raised its holdings in Colgate-Palmolive by 7.5% in the 1st quarter. Valmark Advisers Inc. now owns 10,985 shares of the company’s stock valued at $936,000 after buying an additional 764 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its position in Colgate-Palmolive by 6.6% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 4,557 shares of the company’s stock worth $388,000 after buying an additional 282 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CL. 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. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a research note on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price objective on the stock. Barclays increased their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Finally, TD Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $96.29.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $92.31 on Monday. The company has a market capitalization of $73.86 billion, a PE ratio of 35.92, a P/E/G ratio of 4.86 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The firm has a fifty day simple moving average of $89.91 and a 200 day simple moving average of $88.17.

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

Colgate-Palmolive Dividend Announcement

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