Hilton Head Capital Partners LLC Takes Position in Colgate-Palmolive Company $CL

Hilton Head Capital Partners LLC bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the 4th quarter, Holdings Channel reports. The institutional investor bought 7,546 shares of the company’s stock, valued at approximately $596,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence Capital Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $5,373,000. ProShare Advisors LLC raised its position in shares of Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after buying an additional 202,379 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Colgate-Palmolive by 18.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock valued at $63,996,000 after buying an additional 122,202 shares in the last quarter. Citigroup Inc. raised its position in shares of Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after buying an additional 409,710 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Colgate-Palmolive by 35.3% in the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock valued at $37,110,000 after buying an additional 122,634 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

CL stock opened at $88.61 on Monday. The company has a 50 day simple moving average of $86.49 and a 200 day simple moving average of $85.98. The stock has a market cap of $70.91 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 4.60 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 82.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. UBS Group upped their price objective on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Bank of America lowered their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus 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.