41,100 Shares in Colgate-Palmolive Company $CL Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 41,100 shares of the company’s stock, valued at approximately $3,503,000.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $861,670,000. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $380,666,000 after acquiring an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at about $236,682,000. Deutsche Bank AG boosted its stake in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares during the period. Finally, Franklin Resources Inc. raised its stake in Colgate-Palmolive by 47.4% during the 4th quarter. Franklin Resources Inc. now owns 6,044,168 shares of the company’s stock valued at $477,610,000 after purchasing an additional 1,942,946 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price for the company. UBS Group lifted their price target on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, May 4th. Piper Sandler decreased their price target on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Trading Up 1.1%

CL stock opened at $92.06 on Friday. The firm has a fifty day moving average price of $88.07 and a 200 day moving average price of $87.04. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. 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 market cap of $73.66 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 4.85 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Colgate-Palmolive’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Colgate-Palmolive 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.