NewEdge Wealth LLC Grows Holdings in Colgate-Palmolive Company $CL

NewEdge Wealth LLC grew its stake in Colgate-Palmolive Company (NYSE:CL) by 156.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,993 shares of the company’s stock after acquiring an additional 6,102 shares during the period. NewEdge Wealth LLC’s holdings in Colgate-Palmolive were worth $790,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Colgate-Palmolive by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after acquiring an additional 1,026,985 shares during the period. Invesco Ltd. raised its stake in shares of Colgate-Palmolive by 13.1% in the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after acquiring an additional 978,943 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after acquiring an additional 2,572,796 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Colgate-Palmolive by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock valued at $517,167,000 after acquiring an additional 314,584 shares during the period. Finally, Amundi raised its stake in shares of Colgate-Palmolive by 41.6% in the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after acquiring an additional 1,850,412 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.7%

NYSE CL opened at $88.20 on Friday. 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 Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock has a market capitalization of $70.76 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 4.60 and a beta of 0.31. The firm has a 50 day moving average of $86.30 and a two-hundred day moving average of $84.68.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that Colgate-Palmolive Company will post 3.83 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Bank of America dropped their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a report on Friday, April 10th. Jefferies Financial Group lifted their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.88.

About Colgate-Palmolive

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.