Smith Group Asset Management LLC Purchases Shares of 10,237 Colgate-Palmolive Company $CL

Smith Group Asset Management LLC acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 10,237 shares of the company’s stock, valued at approximately $872,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Colgate-Palmolive in the fourth quarter valued at $861,670,000. Bank of New York Mellon Corp increased its stake in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after acquiring an additional 7,927,238 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after acquiring an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth about $236,682,000. Finally, Deutsche Bank AG lifted its stake in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

CL opened at $92.87 on Wednesday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The firm has a market cap of $74.32 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 4.84 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The company has a fifty day simple moving average of $90.87 and a 200 day simple moving average of $89.26.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. Equities research analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CL. Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Piper Sandler raised their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.82.

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.