Groupe la Francaise Purchases 103,629 Shares of Colgate-Palmolive Company $CL

Groupe la Francaise grew its position in shares of Colgate-Palmolive Company (NYSE:CLFree Report) by 295.3% in the first quarter, Holdings Channel reports. The fund owned 138,723 shares of the company’s stock after buying an additional 103,629 shares during the quarter. Groupe la Francaise’s holdings in Colgate-Palmolive were worth $11,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CL. Vanguard Group Inc. increased its position in Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC lifted its position in Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares during the last quarter. Morgan Stanley grew its stake in shares of Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after buying an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after buying an additional 7,927,238 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $861,670,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 2.1%

NYSE CL opened at $91.56 on Friday. The stock has a market cap of $73.27 billion, a PE ratio of 35.63, a PEG ratio of 4.92 and a beta of 0.33. The company’s 50-day moving average price is $90.96 and its 200-day moving average price is $89.42. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CLGet Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

Analysts Set New Price Targets

A number of research analysts recently commented on CL shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Piper Sandler boosted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $96.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Barclays increased their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.82.

Get Our Latest Stock Analysis on CL

About Colgate-Palmolive

(Free Report)

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

See Also

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CLFree Report).

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

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