Kovitz Investment Group Partners LLC Raises Position in Colgate-Palmolive Company $CL

Kovitz Investment Group Partners LLC lifted its holdings in Colgate-Palmolive Company (NYSE:CL) by 447.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,063 shares of the company’s stock after purchasing an additional 147,970 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Colgate-Palmolive were worth $14,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased 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 valued at $26,000 after acquiring an additional 150 shares in the last quarter. Triumph Capital Management raised its position in shares of 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 purchasing an additional 127 shares during the last quarter. Jessup Wealth Management Inc acquired a new stake in Colgate-Palmolive in the 4th quarter worth approximately $26,000. Finally, Maseco LLP acquired a new stake in Colgate-Palmolive in the 4th quarter worth approximately $27,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.9%

NYSE CL opened at $89.74 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year 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. The company has a market capitalization of $71.81 billion, a PE ratio of 34.92, a P/E/G ratio of 4.78 and a beta of 0.33. The company has a fifty day moving average of $87.32 and a 200 day moving average of $86.58.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping 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 return on equity of 386.76% and a net margin of 10.04%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. Research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors 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 yield of 2.4%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Analyst Ratings Changes

CL has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a research note on Thursday, June 11th. They issued a “market perform” rating and a $96.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.88.

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.