Cornerstone Wealth Group LLC raised its stake in Colgate-Palmolive (NYSE:CL) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,875 shares of the company’s stock after purchasing an additional 283 shares during the period. Cornerstone Wealth Group LLC’s holdings in Colgate-Palmolive were worth $323,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CL. Evoke Wealth LLC grew its position in shares of Colgate-Palmolive by 27.2% during the 4th quarter. Evoke Wealth LLC now owns 631 shares of the company’s stock worth $43,000 after buying an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Colgate-Palmolive by 2.0% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,922 shares of the company’s stock worth $476,000 after buying an additional 139 shares during the period. Godshalk Welsh Capital Management Inc. grew its position in shares of Colgate-Palmolive by 1.5% during the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 10,000 shares of the company’s stock worth $688,000 after buying an additional 150 shares during the period. IHT Wealth Management LLC grew its position in shares of Colgate-Palmolive by 4.7% during the 4th quarter. IHT Wealth Management LLC now owns 3,391 shares of the company’s stock worth $233,000 after buying an additional 151 shares during the period. Finally, Boys Arnold & Co. Inc. grew its position in shares of Colgate-Palmolive by 1.7% during the 4th quarter. Boys Arnold & Co. Inc. now owns 9,325 shares of the company’s stock worth $642,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 74.79% of the company’s stock.
CL has been the subject of several recent analyst reports. Bank of America raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research report on Friday, March 20th. Evercore ISI reiterated a “buy” rating and issued a $80.00 target price on shares of Colgate-Palmolive in a report on Monday, January 27th. SunTrust Banks increased their target price on Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, May 15th. TheStreet cut Colgate-Palmolive from a “b” rating to a “c+” rating in a report on Friday, May 1st. Finally, Atlantic Securities upgraded Colgate-Palmolive from a “neutral” rating to an “overweight” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $75.60.
NYSE:CL traded up $0.40 during trading hours on Friday, hitting $70.66. 1,526,471 shares of the company traded hands, compared to its average volume of 4,353,614. The company has a quick ratio of 0.66, a current ratio of 0.96 and a debt-to-equity ratio of 21.51. The firm’s 50-day simple moving average is $69.85 and its 200-day simple moving average is $69.57. Colgate-Palmolive has a one year low of $58.49 and a one year high of $77.41. The company has a market cap of $60.18 billion, a PE ratio of 23.98, a PEG ratio of 4.63 and a beta of 0.60.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. Colgate-Palmolive had a return on equity of 942.99% and a net margin of 15.86%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same period last year, the business earned $0.67 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Colgate-Palmolive will post 2.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.49%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, April 17th. Colgate-Palmolive’s payout ratio is presently 62.19%.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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