Vise Technologies Inc. grew its position in Colgate-Palmolive Company (NYSE:CL – Free Report) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,381 shares of the company’s stock after buying an additional 7,755 shares during the period. Vise Technologies Inc.’s holdings in Colgate-Palmolive were worth $7,029,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CL. Virginia Estate & Retirement Planning Advisors Inc. raised its position in shares of Colgate-Palmolive by 1,409.1% during the 3rd quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock valued at $28,000 after buying an additional 310 shares during the period. Parvin Asset Management LLC acquired a new position in Colgate-Palmolive in the second quarter valued at approximately $32,000. Park Place Capital Corp grew its position in Colgate-Palmolive by 55.5% in the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock worth $33,000 after acquiring an additional 127 shares during the period. Gould Capital LLC grew its position in Colgate-Palmolive by 38.7% in the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Finally, Montgomery Financial Services LLC purchased a new position in Colgate-Palmolive in the second quarter worth approximately $36,000. Institutional investors and hedge funds own 80.41% of the company’s stock.
Colgate-Palmolive Stock Performance
NYSE:CL opened at $97.59 on Tuesday. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The stock has a market capitalization of $77.79 billion, a P/E ratio of 24.00, a PEG ratio of 4.44 and a beta of 0.33. The company has a 50 day moving average price of $89.67 and a 200 day moving average price of $89.72. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.34 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Equities research analysts forecast that Colgate-Palmolive Company will post 3.89 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.
Analyst Ratings Changes
CL has been the subject of several recent analyst reports. Weiss Ratings cut Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. Citigroup upped their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada increased their price target on Colgate-Palmolive from $104.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $104.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday. Finally, TD Cowen boosted their price objective on shares of Colgate-Palmolive from $90.00 to $97.00 and gave the company a “hold” rating in a report on Monday. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.78.
Check Out Our Latest Stock Analysis on CL
Key Stories Impacting Colgate-Palmolive
Here are the key news stories impacting Colgate-Palmolive this week:
- Positive Sentiment: Colgate-Palmolive reported third-quarter sales growth of 4.6%, exceeded earnings expectations, narrowed its full-year sales outlook, and raised its margin and EPS guidance. The results suggest pricing, productivity efforts, and steady demand are offsetting inflationary and operating-cost pressures. Colgate-Palmolive sales rise 4.6% and it lifts margin and EPS outlook
- Positive Sentiment: Management highlighted resilient global demand and premium product innovation, supporting expectations for continued organic growth despite a challenging cost environment. CL Q3 deep dive: global demand and premium innovation support steady growth amid cost pressures
- Positive Sentiment: Morgan Stanley raised its price target to $111 from $104 and maintained an Overweight rating. BNP Paribas Exane also lifted its target to $108 from $97 while reaffirming Outperform, reflecting greater confidence after the quarterly beat. Colgate-Palmolive Analysts Boost Their Forecasts After Upbeat Q3 Earnings
- Positive Sentiment: Royal Bank of Canada raised its target to $105 from $104 and retained an Outperform rating, while Wells Fargo increased its target to $95 from $90. The broad target revisions indicate improved earnings expectations, even though analyst conviction varies.
- Neutral Sentiment: JPMorgan lowered its target modestly to $102 from $104 but kept an Overweight rating. Barclays likewise maintained a Hold rating, signaling that some analysts view the recent rally and valuation as largely reflecting the improved outlook.
- Neutral Sentiment: Colgate-Palmolive appointed Akash Parekh to lead India marketing following Gunjit Jain’s departure. The leadership transition could affect execution in an important growth market, but no immediate financial impact was reported. Colgate-Palmolive Picks Akash Parekh To Lead India Marketing
- Negative Sentiment: Investors continue to monitor margin pressure and lingering questions about profit growth. Wells Fargo’s Equal Weight rating and target below the recent trading level underscore concerns that cost inflation and a relatively full valuation could limit further upside.
Insider Buying and Selling at Colgate-Palmolive
In other news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John Cahill sold 4,170 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director owned 28,373 shares in the company, valued at $2,649,187.01. This represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.43% of the company’s stock.
About Colgate-Palmolive
Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.
The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.
Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.
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