Cullen Frost Bankers Inc. Trims Stock Holdings in Colgate-Palmolive Company $CL

Cullen Frost Bankers Inc. trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,898 shares of the company’s stock after selling 368 shares during the period. Cullen Frost Bankers Inc.’s holdings in Colgate-Palmolive were worth $2,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Brighton Jones LLC boosted its holdings in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Colgate-Palmolive by 14.2% in the first quarter. GAMMA Investing LLC now owns 11,797 shares of the company’s stock worth $1,105,000 after acquiring an additional 1,468 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Colgate-Palmolive by 31.1% in the first quarter. Continuum Advisory LLC now owns 1,171 shares of the company’s stock worth $110,000 after acquiring an additional 278 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Colgate-Palmolive by 69.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 23,854 shares of the company’s stock worth $2,235,000 after acquiring an additional 9,815 shares in the last quarter. Finally, Legacy Advisors LLC boosted its holdings in Colgate-Palmolive by 24.3% in the first quarter. Legacy Advisors LLC now owns 3,371 shares of the company’s stock worth $316,000 after acquiring an additional 659 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a report on Friday, October 10th. Morgan Stanley dropped their target price on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Barclays dropped their target price on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Finally, Raymond James Financial lowered their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Trading Down 1.7%

Shares of NYSE:CL opened at $78.47 on Friday. The company has a market cap of $63.42 billion, a P/E ratio of 22.04, a PEG ratio of 4.69 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 1 year low of $76.68 and a 1 year high of $100.18. The stock’s fifty day moving average price is $81.47 and its 200-day moving average price is $87.01.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is currently 58.43%.

Colgate-Palmolive Company 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.