Welch Group LLC Increases Stake in Colgate-Palmolive Company $CL

Welch Group LLC increased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 626,828 shares of the company’s stock after buying an additional 13,652 shares during the period. Colgate-Palmolive comprises about 2.0% of Welch Group LLC’s portfolio, making the stock its 26th biggest position. Welch Group LLC’s holdings in Colgate-Palmolive were worth $53,425,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in Colgate-Palmolive in the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management lifted its position in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth $26,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.1%

CL opened at $92.06 on Friday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The stock has a market capitalization of $73.66 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 4.80 and a beta of 0.33. The business’s 50-day simple moving average is $88.07 and its 200-day simple moving average is $87.04.

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 analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced 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 is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. TD Cowen reiterated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 target price 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target 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.