Citizens Business Bank Has $2.66 Million Stock Holdings in Colgate-Palmolive Company $CL

Citizens Business Bank lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 0.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,297 shares of the company’s stock after buying an additional 232 shares during the quarter. Citizens Business Bank’s holdings in Colgate-Palmolive were worth $2,663,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Westend Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 140 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $29,000. Ransom Advisory Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.4%

CL opened at $79.14 on Friday. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $100.54. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market capitalization of $63.96 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 4.58 and a beta of 0.34. The company’s 50 day moving average price is $81.96 and its two-hundred day moving average price is $87.39.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion for 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%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. As a group, research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CL. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research note on Friday, October 10th. Wells Fargo & Company dropped their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Citigroup decreased their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Finally, Bank of America decreased their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.21.

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.