Colgate-Palmolive Company $CL Shares Bought by NorthRock Partners LLC

NorthRock Partners LLC raised its position in Colgate-Palmolive Company (NYSE:CL) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,383 shares of the company’s stock after acquiring an additional 974 shares during the quarter. NorthRock Partners LLC’s holdings in Colgate-Palmolive were worth $853,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CL. Brighton Jones LLC grew its position in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Colgate-Palmolive by 14.2% during the 1st quarter. GAMMA Investing LLC now owns 11,797 shares of the company’s stock valued at $1,105,000 after buying an additional 1,468 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of Colgate-Palmolive by 8.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 3,572 shares of the company’s stock valued at $335,000 after buying an additional 273 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Colgate-Palmolive by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 329,826 shares of the company’s stock valued at $30,905,000 after buying an additional 63,419 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at approximately $228,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CL. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Piper Sandler began coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Citigroup reduced their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Finally, UBS Group reduced their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Stock Performance

CL stock opened at $78.43 on Wednesday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 4.24 and a beta of 0.34. Colgate-Palmolive Company has a 1 year low of $76.68 and a 1 year high of $102.61. The stock’s fifty day moving average is $82.34 and its two-hundred day moving average is $87.67.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. On average, research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.