Towercrest Capital Management Boosts Stock Position in Colgate-Palmolive Company $CL

Towercrest Capital Management grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 1,243.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,117 shares of the company’s stock after purchasing an additional 59,345 shares during the quarter. Towercrest Capital Management’s holdings in Colgate-Palmolive were worth $5,125,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the period. Woodline Partners LP boosted its stake in Colgate-Palmolive by 76.3% in the first 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 last quarter. Geneos Wealth Management Inc. grew its position in shares of Colgate-Palmolive by 25.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,320 shares of the company’s stock valued at $499,000 after acquiring an additional 1,092 shares during the period. Modern Wealth Management LLC increased its stake in shares of Colgate-Palmolive by 267.5% during the 1st quarter. Modern Wealth Management LLC now owns 8,206 shares of the company’s stock worth $769,000 after purchasing an additional 5,973 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Colgate-Palmolive by 3.1% during the 1st quarter. Voya Investment Management LLC now owns 502,676 shares of the company’s stock worth $47,101,000 after purchasing an additional 15,219 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday, October 10th. Raymond James Financial cut 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. The Goldman Sachs Group lowered their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Morgan Stanley cut their target price on shares of 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, Bank of America reduced their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.19.

Colgate-Palmolive Stock Up 0.7%

CL stock opened at $81.44 on Monday. The stock has a 50-day simple moving average of $78.71 and a two-hundred day simple moving average of $81.91. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The firm has a market capitalization of $65.64 billion, a PE ratio of 22.81, a PEG ratio of 5.52 and a beta of 0.30. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. Colgate-Palmolive’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. On average, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is 58.26%.

About Colgate-Palmolive

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.