Colgate-Palmolive Company $CL Position Boosted by Voya Investment Management LLC

Voya Investment Management LLC increased its holdings in Colgate-Palmolive Company (NYSE:CL) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,603 shares of the company’s stock after purchasing an additional 7,898 shares during the quarter. Voya Investment Management LLC owned 0.06% of Colgate-Palmolive worth $40,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stokes Capital Advisors LLC increased its holdings in shares of Colgate-Palmolive by 17.1% in the third quarter. Stokes Capital Advisors LLC now owns 79,107 shares of the company’s stock valued at $6,324,000 after buying an additional 11,553 shares in the last quarter. Amiral Gestion bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $1,679,000. Hilltop National Bank grew its holdings in shares of Colgate-Palmolive by 62.4% in the 3rd quarter. Hilltop National Bank now owns 4,810 shares of the company’s stock worth $385,000 after acquiring an additional 1,848 shares during the last quarter. NatWest Group plc raised its position in shares of Colgate-Palmolive by 0.3% during the third quarter. NatWest Group plc now owns 60,666 shares of the company’s stock worth $4,850,000 after purchasing an additional 210 shares during the period. Finally, Bennett Selby Investments LP lifted its holdings in shares of Colgate-Palmolive by 32.0% during the third quarter. Bennett Selby Investments LP now owns 7,694 shares of the company’s stock valued at $615,000 after purchasing an additional 1,864 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

CL stock opened at $78.50 on Friday. The firm has a 50 day simple moving average of $78.32 and a 200 day simple moving average of $83.07. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The stock has a market cap of $63.28 billion, a P/E ratio of 21.99, a P/E/G ratio of 5.58 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. Research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Raymond James Financial dropped their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Evercore ISI decreased their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Monday, November 3rd. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.81.

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.