Advisors Capital Management LLC Buys 24,946 Shares of Colgate-Palmolive Company $CL

Advisors Capital Management LLC boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 13.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,662 shares of the company’s stock after buying an additional 24,946 shares during the period. Advisors Capital Management LLC’s holdings in Colgate-Palmolive were worth $19,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CL. Geneos Wealth Management Inc. grew its holdings 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 purchasing an additional 1,092 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Colgate-Palmolive by 0.3% in the first quarter. IFM Investors Pty Ltd now owns 159,409 shares of the company’s stock worth $14,937,000 after acquiring an additional 439 shares during the period. Blue Rock Wealth Management LLC acquired a new position in Colgate-Palmolive in the first quarter valued at $526,000. Belpointe Asset Management LLC boosted its position in shares of Colgate-Palmolive by 49.7% during the 1st quarter. Belpointe Asset Management LLC now owns 11,447 shares of the company’s stock valued at $1,073,000 after purchasing an additional 3,798 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Colgate-Palmolive by 8.5% during the 1st quarter. Intech Investment Management LLC now owns 592,020 shares of the company’s stock worth $55,472,000 after buying an additional 46,469 shares during the period. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CL. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an “underweight” rating for the company in a research report on Monday, August 4th. UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Morgan Stanley lowered their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, Citigroup reduced their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Colgate-Palmolive Trading Down 1.3%

CL opened at $83.22 on Thursday. Colgate-Palmolive Company has a 52 week low of $82.29 and a 52 week high of $106.44. The stock has a market cap of $67.26 billion, a PE ratio of 23.38, a PEG ratio of 4.38 and a beta of 0.35. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The business has a 50 day moving average of $86.27 and a 200-day moving average of $89.65.

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

About Colgate-Palmolive

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.