Joseph Group Capital Management Invests $60,000 in Colgate-Palmolive (NYSE:CL)

Joseph Group Capital Management bought a new position in shares of Colgate-Palmolive (NYSE:CLGet Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 700 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds have also modified their holdings of the company. Roundview Capital LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at approximately $211,000. Wilkins Investment Counsel Inc. increased its position in Colgate-Palmolive by 1.4% during the fourth quarter. Wilkins Investment Counsel Inc. now owns 76,270 shares of the company’s stock worth $6,509,000 after buying an additional 1,065 shares in the last quarter. Cutter & CO Brokerage Inc. increased its position in Colgate-Palmolive by 10.5% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 3,145 shares of the company’s stock worth $268,000 after buying an additional 300 shares in the last quarter. Confluence Wealth Services Inc. purchased a new position in Colgate-Palmolive during the fourth quarter worth $77,000. Finally, Pittenger & Anderson Inc. increased its position in Colgate-Palmolive by 371.1% during the fourth quarter. Pittenger & Anderson Inc. now owns 815 shares of the company’s stock worth $70,000 after buying an additional 642 shares in the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.

NYSE:CL traded up $0.85 during mid-day trading on Friday, hitting $78.40. The company had a trading volume of 5,068,563 shares, compared to its average volume of 6,104,116. The business has a fifty day simple moving average of $77.28 and a 200-day simple moving average of $79.12. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 10.42. Colgate-Palmolive has a 1 year low of $72.20 and a 1 year high of $85.61. The firm has a market capitalization of $65.69 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 5.13 and a beta of 0.56.

Colgate-Palmolive (NYSE:CLGet Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that Colgate-Palmolive will post 3.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Thursday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, April 20th. Colgate-Palmolive’s payout ratio is presently 77.69%.

Colgate-Palmolive announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 10th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

CL has been the topic of several analyst reports. Citigroup raised their price objective on Colgate-Palmolive from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, January 31st. Credit Suisse Group decreased their price objective on Colgate-Palmolive from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, January 31st. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $78.00 to $76.00 and set an “underweight” rating on the stock in a report on Monday, January 31st. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Finally, Stifel Nicolaus decreased their price objective on Colgate-Palmolive from $90.00 to $88.00 in a report on Wednesday, April 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.56.

In other news, Director John P. Bilbrey sold 4,917 shares of Colgate-Palmolive stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $78.66, for a total transaction of $386,771.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

About Colgate-Palmolive (Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

See Also

Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.