PNC Financial Services Group Inc. Purchases 9,279 Shares of Colgate-Palmolive Company $CL

PNC Financial Services Group Inc. increased its position in Colgate-Palmolive Company (NYSE:CL) by 1.0% in the first quarter, HoldingsChannel reports. The firm owned 899,670 shares of the company’s stock after purchasing an additional 9,279 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Colgate-Palmolive were worth $76,679,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares during the period. Woodline Partners LP lifted its position in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after acquiring an additional 20,062 shares during the period. Schnieders Capital Management LLC. lifted its position in Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after acquiring an additional 245 shares during the period. Nebula Research & Development LLC boosted its stake in Colgate-Palmolive by 165.5% during the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after acquiring an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Colgate-Palmolive by 21.7% in the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after purchasing an additional 116,968 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $91.69 on Thursday. The firm has a market cap of $73.37 billion, a P/E ratio of 35.68, a PEG ratio of 4.77 and a beta of 0.33. 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 company has a 50 day moving average of $90.70 and a 200 day moving average of $88.86.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. As a group, research analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 target price on the stock. Finally, Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.82.

Colgate-Palmolive 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.