Intech Investment Management LLC Decreases Stock Position in Colgate-Palmolive Company $CL

Intech Investment Management LLC lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 42.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 391,932 shares of the company’s stock after selling 285,082 shares during the period. Intech Investment Management LLC’s holdings in Colgate-Palmolive were worth $30,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CL. CBIZ Investment Advisory Services LLC raised its holdings in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares during the period. Maseco LLP purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $27,000. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at $30,000. Global Wealth Strategies & Associates raised its holdings in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after buying an additional 300 shares during the period. Finally, Grove Bank & Trust raised its holdings in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock worth $32,000 after buying an additional 263 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 topic of several recent analyst reports. Piper Sandler reduced their price target on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Jefferies Financial Group increased their price target on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Bank of America reduced their price target on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Finally, Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Trading Up 0.4%

Shares of NYSE CL opened at $91.69 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The business has a fifty day simple moving average of $86.24 and a two-hundred day simple moving average of $85.60. The firm has a market cap of $73.37 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 4.74 and a beta of 0.31. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates 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 was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. Analysts expect that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were given a dividend of $0.53 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Colgate-Palmolive Company 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.