Hourglass Capital LLC Buys 1,400 Shares of Colgate-Palmolive (NYSE:CL)

Hourglass Capital LLC lifted its stake in Colgate-Palmolive (NYSE:CL) by 60.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,700 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Hourglass Capital LLC’s holdings in Colgate-Palmolive were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP raised its stake in Colgate-Palmolive by 20.6% during the 4th quarter. Allworth Financial LP now owns 21,584 shares of the company’s stock valued at $1,890,000 after buying an additional 3,694 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Colgate-Palmolive in the fourth quarter worth $15,269,000. Principal Securities Inc. increased its position in Colgate-Palmolive by 21.1% during the fourth quarter. Principal Securities Inc. now owns 10,322 shares of the company’s stock valued at $938,000 after acquiring an additional 1,800 shares during the last quarter. TigerOak Management L.L.C. bought a new position in Colgate-Palmolive in the fourth quarter valued at about $831,000. Finally, Montag A & Associates Inc. boosted its position in Colgate-Palmolive by 2.1% in the fourth quarter. Montag A & Associates Inc. now owns 17,411 shares of the company’s stock worth $1,583,000 after purchasing an additional 353 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 1.9 %

Shares of CL stock opened at $86.10 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 9.46. The stock has a market capitalization of $70.34 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 4.12 and a beta of 0.44. Colgate-Palmolive has a 12-month low of $83.20 and a 12-month high of $109.30. The stock’s 50-day moving average price is $89.53 and its 200-day moving average price is $96.38.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the prior year, the business posted $0.87 EPS. Equities research analysts predict that Colgate-Palmolive will post 3.73 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CL shares. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen dropped their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Morgan Stanley decreased their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Barclays cut their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.16.

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.