PNC Financial Services Group Inc. Boosts Stock Position in Colgate-Palmolive Company $CL

PNC Financial Services Group Inc. grew its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 899,670 shares of the company’s stock after purchasing an additional 9,279 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.11% of Colgate-Palmolive worth $76,679,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CL. Teacher Retirement System of Texas raised its position in 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 purchasing an additional 122,634 shares during the period. Flputnam Investment Management Co. boosted its position in Colgate-Palmolive by 7.4% during the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after buying an additional 13,804 shares during the period. Caprock Group LLC boosted its position in Colgate-Palmolive by 116.5% during the fourth quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock valued at $5,121,000 after buying an additional 34,879 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Colgate-Palmolive by 10.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,443 shares of the company’s stock valued at $17,498,000 after buying an additional 21,109 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Colgate-Palmolive by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock valued at $625,758,000 after buying an additional 29,876 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $91.69 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm has a market cap of $73.37 billion, a P/E ratio of 35.68, a P/E/G ratio of 4.77 and a beta of 0.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The firm has a 50-day moving average of $90.70 and a 200-day moving average of $88.86.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the business earned $0.91 EPS. Colgate-Palmolive’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CL shares. Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. UBS Group lifted their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price objective for the company. TD Cowen reissued a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Finally, The Goldman Sachs Group restated 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Company 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.