BlackRock Inc. increased its position in Colgate-Palmolive (NYSE:CL) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,486,963 shares of the company’s stock after acquiring an additional 433,721 shares during the period. BlackRock Inc. owned about 7.29% of Colgate-Palmolive worth $5,001,965,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Horan Securities Inc. lifted its position in Colgate-Palmolive by 60.1% during the second quarter. Horan Securities Inc. now owns 341 shares of the company’s stock valued at $28,000 after purchasing an additional 128 shares in the last quarter. Cowen Prime Advisors LLC purchased a new position in Colgate-Palmolive during the second quarter valued at $28,000. Eagle Bay Advisors LLC purchased a new position in Colgate-Palmolive during the second quarter valued at $32,000. First PREMIER Bank purchased a new position in Colgate-Palmolive during the second quarter valued at $33,000. Finally, Lumature Wealth Partners LLC purchased a new position in Colgate-Palmolive during the first quarter valued at $59,000. 76.28% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their target price for the company from $84.00 to $86.00 in a research report on Monday. UBS Group began coverage on Colgate-Palmolive in a research report on Wednesday, June 23rd. They issued a “buy” rating and a $95.00 price objective on the stock. Credit Suisse Group upgraded Colgate-Palmolive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Wednesday, June 9th. Finally, Evercore ISI restated a “buy” rating and issued a $95.00 price objective on shares of Colgate-Palmolive in a research report on Sunday, June 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.69.
NYSE:CL opened at $76.17 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.70 and a debt-to-equity ratio of 9.22. The company has a market capitalization of $64.25 billion, a P/E ratio of 23.88, a P/E/G ratio of 3.98 and a beta of 0.60. Colgate-Palmolive has a 12 month low of $74.14 and a 12 month high of $86.41. The business’s 50-day moving average is $79.47 and its 200 day moving average is $80.31.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, July 29th. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.24 billion. Colgate-Palmolive had a return on equity of 293.48% and a net margin of 15.98%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, research analysts forecast that Colgate-Palmolive will post 3.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Thursday, October 21st will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, October 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.36%. Colgate-Palmolive’s dividend payout ratio is currently 58.82%.
Colgate-Palmolive Company Profile
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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