Burney Co. Grows Stock Holdings in Colgate-Palmolive Company $CL

Burney Co. boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 11.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,038 shares of the company’s stock after purchasing an additional 2,839 shares during the quarter. Burney Co.’s holdings in Colgate-Palmolive were worth $2,458,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Personal CFO Solutions LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at $285,000. Vision Capital Management Inc. purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at $322,000. Financial Gravity Asset Management Inc. bought a new position in shares of Colgate-Palmolive in the first quarter worth about $2,166,000. Cidel Asset Management Inc. grew its holdings in shares of Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after purchasing an additional 39,413 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 398.6% in the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after purchasing an additional 8,515 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CL shares. Raymond James Financial cut their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Barclays cut their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a report on Friday, October 10th. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group cut their price target 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 issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.00.

Colgate-Palmolive Stock Down 2.7%

Shares of Colgate-Palmolive stock opened at $74.94 on Tuesday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The firm’s 50-day moving average is $80.26 and its two-hundred day moving average is $86.14. The stock has a market cap of $60.56 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 4.44 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

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.