Impax Asset Management Group plc Raises Holdings in Colgate-Palmolive Company $CL

Impax Asset Management Group plc increased its holdings in Colgate-Palmolive Company (NYSE:CL) by 4.9% in the second quarter, Holdings Channel reports. The fund owned 251,640 shares of the company’s stock after purchasing an additional 11,790 shares during the quarter. Impax Asset Management Group plc’s holdings in Colgate-Palmolive were worth $22,874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Westside Investment Management Inc. grew its stake in Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Saudi Central Bank acquired a new stake in Colgate-Palmolive during the 1st quarter worth about $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive in the first quarter valued at about $33,000. Y.D. More Investments Ltd purchased a new position in shares of Colgate-Palmolive in the first quarter worth about $37,000. Finally, Atticus Wealth Management LLC lifted its holdings in shares of Colgate-Palmolive by 156.8% during the second quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock worth $44,000 after purchasing an additional 298 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL opened at $78.57 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The stock has a 50-day moving average of $79.42 and a 200 day moving average of $85.39. The stock has a market capitalization of $63.33 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CL shares. Evercore ISI cut their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Bank of America cut their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. UBS Group reduced their target price on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Finally, Raymond James Financial cut their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive 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.