Colgate-Palmolive Company $CL Stake Lowered by Evelyn Partners Asset Management Ltd

Evelyn Partners Asset Management Ltd cut its stake in Colgate-Palmolive Company (NYSE:CL) by 95.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,246 shares of the company’s stock after selling 23,621 shares during the quarter. Evelyn Partners Asset Management Ltd’s holdings in Colgate-Palmolive were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CL. Quantinno Capital Management LP boosted its position in Colgate-Palmolive by 14.5% during the first quarter. Quantinno Capital Management LP now owns 1,449,131 shares of the company’s stock valued at $123,509,000 after purchasing an additional 182,970 shares during the last quarter. SummitTX Capital L.P. acquired a new position in Colgate-Palmolive in the 1st quarter worth about $6,525,000. Lazard Asset Management LLC raised its stake in shares of Colgate-Palmolive by 14.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,018,463 shares of the company’s stock worth $172,034,000 after purchasing an additional 250,620 shares in the last quarter. Cypress Capital Group raised its stake in shares of Colgate-Palmolive by 9.1% during the 1st quarter. Cypress Capital Group now owns 12,228 shares of the company’s stock worth $1,042,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of Colgate-Palmolive by 2.4% during the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 134,866 shares of the company’s stock valued at $11,495,000 after buying an additional 3,195 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CL. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Barclays increased their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Piper Sandler lifted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Sanford C. Bernstein began coverage on Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Trading Up 1.4%

Shares of CL stock opened at $92.00 on Tuesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market cap of $73.62 billion, a price-to-earnings ratio of 35.80, a P/E/G ratio of 4.78 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The firm has a fifty day moving average of $90.82 and a 200-day moving average of $89.15.

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 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 for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

About Colgate-Palmolive

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.