Lazard Asset Management LLC Boosts Stock Holdings in Colgate-Palmolive Company $CL

Lazard Asset Management LLC raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 14.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,018,463 shares of the company’s stock after acquiring an additional 250,620 shares during the quarter. Lazard Asset Management LLC’s holdings in Colgate-Palmolive were worth $172,034,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. TD Cowen restated a “hold” rating and set a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price objective for the company. Citigroup lifted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company increased their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.82.

Colgate-Palmolive Trading Down 0.0%

Shares of CL opened at $90.74 on Monday. The business’s 50-day moving average price is $90.77 and its 200-day moving average price is $89.05. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a market cap of $72.61 billion, a PE ratio of 35.31, a P/E/G ratio of 4.78 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 (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 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 firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. 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.