Procyon Advisors LLC Has $4.41 Million Stake in Colgate-Palmolive Company $CL

Procyon Advisors LLC raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 27.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,721 shares of the company’s stock after purchasing an additional 11,277 shares during the period. Procyon Advisors LLC’s holdings in Colgate-Palmolive were worth $4,408,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CL. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $861,670,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $380,666,000 after acquiring an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $236,682,000. Deutsche Bank AG boosted its holdings in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after acquiring an additional 2,746,920 shares during the last quarter. Finally, Diamant Asset Management Inc. increased its position in Colgate-Palmolive by 8,123.0% during the 1st quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company’s stock valued at $201,072,000 after purchasing an additional 2,330,476 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $92.31 on Monday. The firm has a market capitalization of $73.86 billion, a P/E ratio of 35.92, a P/E/G ratio of 4.86 and a beta of 0.33. The firm’s 50-day moving average price is $89.91 and its 200-day moving average price is $88.17. 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 Company has a 1-year low of $74.54 and a 1-year high of $99.33.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is currently 82.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Sanford C. Bernstein assumed 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 objective for the company. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.29.

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.