Hilton Head Capital Partners LLC Acquires New Stake in Colgate-Palmolive Company $CL

Hilton Head Capital Partners LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,546 shares of the company’s stock, valued at approximately $596,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Providence Capital Advisors LLC bought a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $5,373,000. ProShare Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 11.0% during the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after buying an additional 202,379 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Colgate-Palmolive by 18.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock worth $63,996,000 after buying an additional 122,202 shares during the period. Citigroup Inc. boosted its holdings in shares of Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after buying an additional 409,710 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Colgate-Palmolive by 35.3% during the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after buying an additional 122,634 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL opened at $88.61 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The company has a market capitalization of $70.91 billion, a P/E ratio of 34.48, a P/E/G ratio of 4.60 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a 50-day moving average price of $86.49 and a two-hundred day moving average price of $85.98.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $5.32 billion during 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. Analysts anticipate that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 82.49%.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. TD Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Barclays lifted their target price on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.