Smith Group Asset Management LLC Invests $872,000 in Colgate-Palmolive Company $CL

Smith Group Asset Management LLC purchased a new stake in Colgate-Palmolive Company (NYSE:CL) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,237 shares of the company’s stock, valued at approximately $872,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CL. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in 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 in the last quarter. TD Capital Management LLC lifted its position in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the period. Triumph Capital Management boosted its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CL. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Bank of America decreased their target price on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $96.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating and seven have issued 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 $97.82.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $92.87 on Wednesday. The company has a market cap of $74.32 billion, a P/E ratio of 36.14, a P/E/G ratio of 4.84 and a beta of 0.33. The business has a fifty day simple moving average of $90.87 and a 200-day simple moving average of $89.26. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. 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 (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Colgate-Palmolive 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.