Shell Asset Management Co. Buys 3,078 Shares of Colgate-Palmolive Company $CL

Shell Asset Management Co. lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,255 shares of the company’s stock after acquiring an additional 3,078 shares during the quarter. Shell Asset Management Co.’s holdings in Colgate-Palmolive were worth $2,841,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Westend Capital Management LLC grew its holdings in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in Colgate-Palmolive during the 1st quarter valued at approximately $29,000. Ransom Advisory Ltd purchased a new stake in Colgate-Palmolive during the 1st quarter valued at approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Colgate-Palmolive during the 1st quarter valued at approximately $37,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 2.0%

Shares of CL opened at $78.99 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The business has a fifty day moving average of $82.95 and a 200 day moving average of $88.15. The company has a market cap of $63.84 billion, a PE ratio of 22.19, a P/E/G ratio of 4.03 and a beta of 0.34. Colgate-Palmolive Company has a 52-week low of $77.09 and a 52-week high of $102.61.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is presently 58.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CL. The Goldman Sachs Group cut their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Barclays cut their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Piper Sandler assumed coverage on Colgate-Palmolive in a research report on Friday. They set a “neutral” rating and a $84.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $94.83.

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.