United Asset Strategies Inc. Grows Position in Colgate-Palmolive Company $CL

United Asset Strategies Inc. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,341 shares of the company’s stock after purchasing an additional 7,659 shares during the quarter. United Asset Strategies Inc.’s holdings in Colgate-Palmolive were worth $10,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter worth $861,670,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at about $236,682,000. Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the last quarter. Finally, Diamant Asset Management Inc. lifted its holdings in shares of Colgate-Palmolive by 8,123.0% during the first quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company’s stock worth $201,072,000 after purchasing an additional 2,330,476 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of NYSE CL traded up $1.77 during midday trading on Tuesday, reaching $95.16. 1,379,745 shares of the stock were exchanged, compared to its average volume of 6,191,860. 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 firm has a market cap of $76.14 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 5.02 and a beta of 0.33. The firm has a 50-day simple moving average of $89.07 and a two-hundred day simple moving average of $87.67. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted 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 firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the business posted $0.91 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Analyst Ratings Changes

A number of brokerages recently commented on CL. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Barclays raised 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. Finally, TD Cowen restated a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. 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, Colgate-Palmolive has an average rating of “Moderate Buy” and an average 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.