Loomis Sayles & Co. L P Boosts Stock Position in Colgate-Palmolive Company $CL

Loomis Sayles & Co. L P boosted its holdings in Colgate-Palmolive Company (NYSE:CL) by 17.8% during the second quarter, HoldingsChannel reports. The fund owned 100,374 shares of the company’s stock after buying an additional 15,197 shares during the period. Loomis Sayles & Co. L P’s holdings in Colgate-Palmolive were worth $9,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at approximately $606,000. Scotia Capital Inc. boosted its holdings in Colgate-Palmolive by 0.4% during the first quarter. Scotia Capital Inc. now owns 63,982 shares of the company’s stock worth $5,995,000 after buying an additional 249 shares in the last quarter. Avalon Trust Co grew its holdings in Colgate-Palmolive by 25.7% in the first quarter. Avalon Trust Co now owns 880 shares of the company’s stock valued at $82,000 after purchasing an additional 180 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Colgate-Palmolive by 2.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 261,739 shares of the company’s stock worth $24,525,000 after purchasing an additional 5,705 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

CL stock opened at $79.96 on Tuesday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The company has a 50 day moving average price of $78.58 and a 200 day moving average price of $84.37. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The stock has a market capitalization of $64.45 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CL shares. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Monday, November 3rd. Bank of America reduced their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Evercore ISI dropped their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.