South Dakota Investment Council decreased its stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 29.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,661 shares of the company’s stock after selling 31,564 shares during the period. South Dakota Investment Council’s holdings in Colgate-Palmolive were worth $6,534,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Smith Group Asset Management LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth $872,000. Gould Capital LLC grew its position in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. EverSource Wealth Advisors LLC increased its stake in Colgate-Palmolive by 33.6% during the first quarter. EverSource Wealth Advisors LLC now owns 9,548 shares of the company’s stock worth $814,000 after acquiring an additional 2,401 shares during the last quarter. Talon Private Wealth LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth about $1,059,000. Finally, Royal Bank of Canada raised its holdings in shares of Colgate-Palmolive by 4.4% in the 1st quarter. Royal Bank of Canada now owns 4,940,013 shares of the company’s stock worth $421,039,000 after purchasing an additional 208,806 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.
Wall Street Analyst Weigh In
CL has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price for the company. Piper Sandler lifted their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Citigroup raised their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, UBS Group lifted their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $97.82.
Colgate-Palmolive Trading Down 2.1%
Shares of CL opened at $91.56 on Friday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The stock has a 50-day moving average price of $90.96 and a 200 day moving average price of $89.42. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market capitalization of $73.27 billion, a P/E ratio of 35.63, a P/E/G ratio of 4.92 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.
Colgate-Palmolive Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s payout ratio is 82.49%.
Colgate-Palmolive Profile
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.
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