Edgestream Partners L.P. Purchases 11,299 Shares of Colgate-Palmolive Company $CL

Edgestream Partners L.P. grew its position in shares of Colgate-Palmolive Company (NYSE:CL) by 131.0% during the first quarter, Holdings Channel reports. The institutional investor owned 19,924 shares of the company’s stock after purchasing an additional 11,299 shares during the quarter. Edgestream Partners L.P.’s holdings in Colgate-Palmolive were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $861,670,000. Bank of New York Mellon Corp increased its stake in shares of Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $236,682,000. Finally, Deutsche Bank AG boosted its holdings in Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares during the period. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent research reports. TD Cowen increased their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday. Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target for the company. Finally, Barclays lifted 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. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Trading Down 1.6%

Shares of CL stock opened at $89.86 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 16.33. The firm has a market cap of $71.91 billion, a P/E ratio of 35.66, a price-to-earnings-growth ratio of 4.80 and a beta of 0.33. The business has a 50-day moving average price of $90.96 and a two-hundred day moving average price of $89.54. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS. Equities analysts anticipate that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared 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 of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

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.