Cozad Asset Management Inc. Purchases Shares of 6,647 Colgate-Palmolive (CL)
Cozad Asset Management Inc. purchased a new stake in Colgate-Palmolive (NYSE:CL) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 6,647 shares of the company’s stock, valued at approximately $431,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Hugh Johnson Advisors LLC boosted its position in Colgate-Palmolive by 8.0% during the 2nd quarter. Hugh Johnson Advisors LLC now owns 10,861 shares of the company’s stock worth $704,000 after purchasing an additional 801 shares during the period. Amalgamated Bank boosted its position in Colgate-Palmolive by 0.7% during the 1st quarter. Amalgamated Bank now owns 110,439 shares of the company’s stock worth $7,916,000 after purchasing an additional 806 shares during the period. CHICAGO TRUST Co NA boosted its position in Colgate-Palmolive by 24.5% during the 1st quarter. CHICAGO TRUST Co NA now owns 4,114 shares of the company’s stock worth $295,000 after purchasing an additional 810 shares during the period. Buckingham Capital Management Inc. boosted its position in Colgate-Palmolive by 2.5% during the 1st quarter. Buckingham Capital Management Inc. now owns 34,396 shares of the company’s stock worth $2,466,000 after purchasing an additional 849 shares during the period. Finally, Heritage Way Advisors LLC boosted its position in Colgate-Palmolive by 2.8% during the 2nd quarter. Heritage Way Advisors LLC now owns 31,733 shares of the company’s stock worth $2,057,000 after purchasing an additional 875 shares during the period. Institutional investors own 74.81% of the company’s stock.
CL has been the subject of a number of research reports. Macquarie cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $74.00 to $65.00 in a research report on Monday, July 30th. Citigroup cut their price objective on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Argus upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Friday, May 25th. They noted that the move was a valuation call. Sanford C. Bernstein reiterated a “market perform” rating and issued a $72.00 price objective on shares of Colgate-Palmolive in a report on Thursday, May 24th. Finally, Wells Fargo & Co lowered shares of Colgate-Palmolive to a “hold” rating in a report on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $72.14.
Shares of CL stock opened at $67.99 on Friday. Colgate-Palmolive has a 12 month low of $61.28 and a 12 month high of $77.91. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. The firm has a market capitalization of $58.99 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 3.04 and a beta of 0.72.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. sell-side analysts forecast that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.47%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.
Colgate-Palmolive announced that its board has authorized a stock repurchase program on Monday, June 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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