Louisiana State Employees Retirement System Makes New $3.50 Million Investment in Colgate-Palmolive Company $CL

Louisiana State Employees Retirement System acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,100 shares of the company’s stock, valued at approximately $3,503,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Triangle Securities Wealth Management increased its stake in shares of Colgate-Palmolive by 2.9% during the first quarter. Triangle Securities Wealth Management now owns 5,929 shares of the company’s stock valued at $505,000 after purchasing an additional 165 shares in the last quarter. First American Bank bought a new position in Colgate-Palmolive during the 1st quarter valued at approximately $205,000. Kestra Private Wealth Services LLC raised its stake in Colgate-Palmolive by 20.2% during the first quarter. Kestra Private Wealth Services LLC now owns 47,178 shares of the company’s stock valued at $4,021,000 after buying an additional 7,937 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Colgate-Palmolive by 4.1% in the first quarter. Ritholtz Wealth Management now owns 57,896 shares of the company’s stock worth $4,934,000 after acquiring an additional 2,287 shares in the last quarter. Finally, Breakwater Capital Group bought a new stake in Colgate-Palmolive in the first quarter worth $389,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $92.06 on Friday. The firm’s 50 day moving average price is $88.07 and its 200-day moving average price is $87.04. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. 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 stock has a market capitalization of $73.66 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 4.85 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 82.49%.

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.