Fifth Third Bancorp Increases Position in Colgate-Palmolive Company $CL

Fifth Third Bancorp increased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 472.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 474,692 shares of the company’s stock after acquiring an additional 391,702 shares during the quarter. Fifth Third Bancorp’s holdings in Colgate-Palmolive were worth $40,458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CL. Kemnay Advisory Services Inc. purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC grew its position in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management increased its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in Colgate-Palmolive in the fourth quarter valued at $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CL. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $102.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $96.29.

Colgate-Palmolive Trading Up 0.1%

Shares of CL opened at $92.31 on Monday. The stock’s 50-day moving average is $89.91 and its two-hundred day moving average is $88.17. The stock has a market cap of $73.86 billion, a PE ratio of 35.92, a P/E/G ratio of 4.86 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

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

Colgate-Palmolive Announces Dividend

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