Portfolio Design Labs LLC Takes $228,000 Position in Colgate-Palmolive (NYSE:CL)

Portfolio Design Labs LLC acquired a new stake in shares of Colgate-Palmolive (NYSE:CL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,512 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp lifted its position in shares of Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after acquiring an additional 1,784,411 shares during the last quarter. Geode Capital Management LLC raised its stake in Colgate-Palmolive by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock valued at $2,095,325,000 after purchasing an additional 552,949 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock valued at $988,997,000 after purchasing an additional 557,492 shares during the period. Barclays PLC raised its stake in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the period. Finally, FMR LLC raised its stake in Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after purchasing an additional 2,674,807 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.7 %

CL stock opened at $86.75 on Thursday. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26. Colgate-Palmolive has a 52-week low of $82.76 and a 52-week high of $109.30. The company has a 50-day moving average of $90.00 and a two-hundred day moving average of $96.61. The stock has a market capitalization of $70.88 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.12 and a beta of 0.44.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the previous year, the business earned $0.87 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.73 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group cut their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, Piper Sandler dropped their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $101.16.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.