Maple Capital Management Inc. Acquires 22,207 Shares of Colgate-Palmolive Company $CL

Maple Capital Management Inc. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 15.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,077 shares of the company’s stock after acquiring an additional 22,207 shares during the quarter. Maple Capital Management Inc.’s holdings in Colgate-Palmolive were worth $14,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grimes & Company Inc. increased its holdings in Colgate-Palmolive by 1.0% in the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after purchasing an additional 118 shares during the last quarter. RFG Advisory LLC increased its stake in shares of Colgate-Palmolive by 1.4% in the 2nd quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after acquiring an additional 123 shares during the last quarter. Tiemann Investment Advisors LLC boosted its stake in Colgate-Palmolive by 2.1% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock worth $553,000 after acquiring an additional 125 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock valued at $497,000 after purchasing an additional 129 shares during the period. Finally, Westside Investment Management Inc. increased its stake in Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 1.4%

Shares of CL stock opened at $79.53 on Wednesday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a market capitalization of $64.11 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. The firm has a 50 day moving average price of $79.52 and a two-hundred day moving average price of $85.44. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $5.13 billion during 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 revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. As a group, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CL shares. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Citigroup reduced their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Finally, The Goldman Sachs Group dropped their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Company 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.