Destination Wealth Management Has $42.30 Million Stake in Colgate-Palmolive Company $CL

Destination Wealth Management grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 535,282 shares of the company’s stock after buying an additional 7,183 shares during the period. Destination Wealth Management owned 0.07% of Colgate-Palmolive worth $42,298,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CL. Brighton Jones LLC lifted its position in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the last quarter. Woodline Partners LP lifted its holdings in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after purchasing an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. lifted its holdings in Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after purchasing an additional 245 shares during the last quarter. Nebula Research & Development LLC lifted its holdings in Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after purchasing an additional 6,437 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Colgate-Palmolive by 21.7% during the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after purchasing an additional 116,968 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $89.40 on Friday. The stock has a market capitalization of $71.54 billion, a PE ratio of 34.79, a P/E/G ratio of 4.72 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The business has a fifty day moving average price of $86.85 and a two-hundred day moving average price of $86.25. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share 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. Stockholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is 82.49%.

Analyst Ratings Changes

CL has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Weiss Ratings raised Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Piper Sandler dropped their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.88.

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.