Massachusetts Financial Services Co. MA Cuts Stock Position in Colgate-Palmolive Company $CL

Massachusetts Financial Services Co. MA cut its holdings in Colgate-Palmolive Company (NYSE:CL) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,474,452 shares of the company’s stock after selling 10,643 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Colgate-Palmolive were worth $357,688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fiduciary Family Office LLC grew its position in Colgate-Palmolive by 37.3% in the 3rd quarter. Fiduciary Family Office LLC now owns 12,457 shares of the company’s stock worth $996,000 after purchasing an additional 3,382 shares during the period. Stegent Equity Advisors Inc. bought a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at $213,000. Maryland State Retirement & Pension System grew its holdings in Colgate-Palmolive by 3.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 40,325 shares of the company’s stock valued at $3,224,000 after buying an additional 1,250 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Colgate-Palmolive by 10.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 33,321 shares of the company’s stock worth $2,664,000 after purchasing an additional 3,048 shares in the last quarter. Finally, Bfsg LLC boosted its stake in Colgate-Palmolive by 1.0% during the third quarter. Bfsg LLC now owns 84,450 shares of the company’s stock valued at $6,751,000 after buying an additional 809 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James Financial dropped their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. The Goldman Sachs Group dropped their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Bank of America dropped their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Piper Sandler set a $88.00 price target on shares of Colgate-Palmolive and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Finally, TD Cowen lowered their price target on shares of Colgate-Palmolive from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.44.

Colgate-Palmolive Stock Up 0.2%

Shares of NYSE CL opened at $84.49 on Monday. The business’s fifty day simple moving average is $79.39 and its 200-day simple moving average is $81.67. The stock has a market cap of $68.10 billion, a P/E ratio of 23.67, a PEG ratio of 5.73 and a beta of 0.30. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.Colgate-Palmolive’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive’s payout ratio is 58.26%.

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.