Lazard Asset Management LLC Increases Stock Position in Colgate-Palmolive (NYSE:CL)

Lazard Asset Management LLC lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 6.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 957,259 shares of the company’s stock after purchasing an additional 57,165 shares during the quarter. Lazard Asset Management LLC owned about 0.12% of Colgate-Palmolive worth $86,201,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. GUARDCAP ASSET MANAGEMENT Ltd lifted its position in shares of Colgate-Palmolive by 4.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after purchasing an additional 278,150 shares in the last quarter. LRI Investments LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at approximately $293,000. 1832 Asset Management L.P. raised its holdings in Colgate-Palmolive by 4,847.3% during the first quarter. 1832 Asset Management L.P. now owns 9,301 shares of the company’s stock worth $838,000 after purchasing an additional 9,113 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Colgate-Palmolive by 14.5% during the first quarter. Canada Pension Plan Investment Board now owns 1,831,475 shares of the company’s stock worth $164,924,000 after purchasing an additional 231,843 shares in the last quarter. Finally, Guardian Capital LP lifted its position in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Guardian Capital LP now owns 66,820 shares of the company’s stock worth $6,017,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded up $2.90 on Friday, reaching $99.39. 7,137,452 shares of the company were exchanged, compared to its average volume of 3,712,450. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $100.61. The firm has a market cap of $81.54 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 3.59 and a beta of 0.39. The company has a 50-day moving average of $95.83 and a 200-day moving average of $90.13.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts forecast that Colgate-Palmolive will post 3.55 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Buying and Selling

In related news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Stifel Nicolaus boosted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. BNP Paribas assumed coverage on shares of Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective for the company. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday. Finally, Morgan Stanley boosted their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $98.58.

Colgate-Palmolive Company Profile

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.