Optas LLC Has $1.41 Million Stock Holdings in Colgate-Palmolive Company $CL

Optas LLC trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,539 shares of the company’s stock after selling 358 shares during the period. Optas LLC’s holdings in Colgate-Palmolive were worth $1,412,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CL. Personal CFO Solutions LLC acquired a new stake in Colgate-Palmolive in the 1st quarter valued at about $285,000. Vision Capital Management Inc. acquired a new stake in Colgate-Palmolive in the 1st quarter valued at about $322,000. Autumn Glory Partners LLC lifted its position in Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock worth $851,000 after acquiring an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Colgate-Palmolive during the first quarter worth approximately $2,166,000. Finally, Penserra Capital Management LLC lifted its position in Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after acquiring an additional 8,515 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $77.96 on Thursday. The firm has a market cap of $63.01 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34. The firm’s fifty day moving average is $82.79 and its 200-day moving average is $88.08. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a 52 week low of $77.09 and a 52 week high of $102.61.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. Sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.43%.

Analysts Set New Price Targets

Several brokerages have issued reports on CL. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Morgan Stanley lowered their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. Barclays decreased their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group decreased their price objective on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.23.

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.