Lecap Asset Management Ltd. Makes New $2.88 Million Investment in Colgate-Palmolive Company $CL

Lecap Asset Management Ltd. acquired a new position in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 31,696 shares of the company’s stock, valued at approximately $2,881,000. Colgate-Palmolive comprises about 1.0% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 7th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC raised its stake in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank bought a new position in Colgate-Palmolive in the first quarter worth approximately $29,000. Ransom Advisory Ltd bought a new position in Colgate-Palmolive in the first quarter worth approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Colgate-Palmolive in the first quarter worth approximately $37,000. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Barclays lowered 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. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Finally, Citigroup lowered their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.27.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $78.95 on Thursday. Colgate-Palmolive Company has a one year low of $78.76 and a one year high of $102.61. The company has a market cap of $63.81 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 4.16 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The business’s 50 day moving average price is $83.69 and its 200 day moving average price is $88.50.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

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.