7,021 Shares in Colgate-Palmolive Company $CL Acquired by Clark Asset Management LLC

Clark Asset Management LLC purchased a new position in Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,021 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD grew its stake in shares of Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after buying an additional 5,269,140 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $217,593,000. Goldman Sachs Group Inc. grew its stake in shares of Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after buying an additional 2,045,191 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 45.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after buying an additional 1,727,105 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $83,837,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the topic of several analyst reports. The Goldman Sachs Group lowered their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research report on Friday, October 10th. Citigroup lowered their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Price Performance

NYSE CL opened at $77.79 on Tuesday. The business’s fifty day moving average price is $81.20 and its 200-day moving average price is $86.81. The stock has a market capitalization of $62.87 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.58 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 1-year low of $76.68 and a 1-year high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. On average, equities analysts predict 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, November 14th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.