Colgate-Palmolive Company $CL Holdings Decreased by Empowered Funds LLC

Empowered Funds LLC reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 21.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 130,068 shares of the company’s stock after selling 35,005 shares during the quarter. Empowered Funds LLC’s holdings in Colgate-Palmolive were worth $11,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its stake in 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 acquiring an additional 150 shares during the period. TD Capital Management LLC lifted its holdings in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management boosted 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 acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CL shares. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target on the stock. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, UBS Group upped their price target on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Trading Down 2.1%

Shares of CL opened at $91.56 on Friday. The business’s 50-day moving average price is $90.96 and its 200 day moving average price is $89.42. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $73.27 billion, a P/E ratio of 35.63, a P/E/G ratio of 4.92 and a beta of 0.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. Analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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