Rakuten Investment Management Inc. raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,679 shares of the company’s stock after purchasing an additional 11,986 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Colgate-Palmolive were worth $12,163,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AIA Group Ltd increased its stake in shares of Colgate-Palmolive by 140.5% in the third quarter. AIA Group Ltd now owns 47,369 shares of the company’s stock worth $4,042,000 after purchasing an additional 27,670 shares in the last quarter. Provenance Wealth Advisors LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $526,000. Integras Partners LLC lifted its stake in shares of Colgate-Palmolive by 0.6% during the 3rd quarter. Integras Partners LLC now owns 35,991 shares of the company’s stock valued at $3,071,000 after buying an additional 207 shares in the last quarter. Associated Banc Corp purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $5,437,000. Finally, Integrity Alliance LLC. boosted its holdings in Colgate-Palmolive by 21.7% in the 3rd quarter. Integrity Alliance LLC. now owns 3,060 shares of the company’s stock worth $261,000 after buying an additional 545 shares during the period. Institutional investors own 80.41% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on CL shares. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. Weiss Ratings downgraded Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $108.00 price target (up from $97.00) on shares of Colgate-Palmolive in a report on Monday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Finally, TD Cowen lifted their price target on Colgate-Palmolive from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.22.
Colgate-Palmolive Stock Performance
Colgate-Palmolive stock opened at $98.65 on Thursday. The firm’s fifty day moving average price is $89.88 and its 200-day moving average price is $89.85. The company has a debt-to-equity ratio of 11.23, a quick ratio of 0.30 and a current ratio of 0.96. The stock has a market cap of $78.42 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 4.34 and a beta of 0.31. Colgate-Palmolive Company has a fifty-two week low of $75.96 and a fifty-two week high of $99.69.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the firm posted $0.91 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.91 earnings per share for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 83.14%.
Insider Transactions at Colgate-Palmolive
In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.43% of the stock is currently owned by company insiders.
Key Headlines Impacting Colgate-Palmolive
Here are the key news stories impacting Colgate-Palmolive this week:
- Positive Sentiment: Investors have favored Colgate-Palmolive and other Dividend Kings amid political uncertainty, seeking dependable earnings and dividends. The company’s recent quarterly results also showed resilience: earnings and revenue exceeded consensus estimates, and revenue grew year over year. Article: Dividend Kings hitting 52-week highs
- Positive Sentiment: Several firms delivered supportive signals, including price-target increases from Wells Fargo and RBC, a bullish appreciation outlook from Morgan Stanley, and an Outperform reaffirmation from BNP Paribas Exane. Article: Wells Fargo raises price target Article: Morgan Stanley outlook Article: BNP Paribas Exane reaffirms Outperform Article: RBC raises price target
- Positive Sentiment: Commentary also highlights Colgate-Palmolive’s pricing power to help protect earnings and dividends from inflation, as well as improving execution and a potentially attractive valuation. Article: Dividend stocks with pricing power Article: Improving execution and valuation
- Neutral Sentiment: Barclays raised its target but maintained an Equal Weight/Hold stance, indicating limited conviction that the shares will outperform from current levels. Article: Barclays remains a Hold
- Negative Sentiment: JPMorgan lowered its expectations for CL’s share price, a counterpoint to the recent target increases. Article: JPMorgan lowers price expectations
Colgate-Palmolive Profile
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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