Lazard Asset Management LLC Has $172.03 Million Stock Position in Colgate-Palmolive Company $CL

Lazard Asset Management LLC increased its position in Colgate-Palmolive Company (NYSE:CL) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,018,463 shares of the company’s stock after buying an additional 250,620 shares during the period. Lazard Asset Management LLC owned 0.25% of Colgate-Palmolive worth $172,034,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in shares of Colgate-Palmolive by 35.3% in the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after acquiring an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. boosted its stake in Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares during the last quarter. Caprock Group LLC increased its holdings in Colgate-Palmolive by 116.5% during the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock worth $5,121,000 after purchasing an additional 34,879 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Colgate-Palmolive by 10.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,443 shares of the company’s stock worth $17,498,000 after purchasing an additional 21,109 shares during the last quarter. Finally, SEB Asset Management AB purchased a new stake in shares of Colgate-Palmolive in the first quarter worth approximately $91,149,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL opened at $90.74 on Monday. The stock has a 50 day moving average of $90.77 and a 200 day moving average of $89.05. The company has a market capitalization of $72.61 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 4.78 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Barclays raised their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.