Stokes Capital Advisors LLC Increases Stock Position in Colgate-Palmolive Company $CL

Stokes Capital Advisors LLC lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 17.1% in the third quarter, HoldingsChannel.com reports. The fund owned 79,107 shares of the company’s stock after purchasing an additional 11,553 shares during the period. Stokes Capital Advisors LLC’s holdings in Colgate-Palmolive were worth $6,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Colgate-Palmolive in the second quarter worth approximately $960,390,000. Price T Rowe Associates Inc. MD grew its stake in Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares in the last quarter. Schroder Investment Management Group increased its holdings in Colgate-Palmolive by 242.3% in the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after acquiring an additional 3,768,784 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Colgate-Palmolive by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock worth $556,663,000 after purchasing an additional 1,839,853 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of Colgate-Palmolive by 2,890.5% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,417,542 shares of the company’s stock valued at $128,855,000 after purchasing an additional 1,370,140 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CL shares. Raymond James Financial dropped their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Monday, November 3rd. Bank of America decreased their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Morgan Stanley dropped their price target on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group decreased their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.81.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $77.73 on Friday. The stock has a 50 day moving average price of $78.31 and a 200 day moving average price of $83.22. The firm has a market capitalization of $62.66 billion, a P/E ratio of 21.77, a P/E/G ratio of 5.68 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its earnings results 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 the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is 58.26%.

About Colgate-Palmolive

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.