Colgate-Palmolive Company $CL Shares Purchased by Rathbones Group PLC

Rathbones Group PLC lifted its holdings in Colgate-Palmolive Company (NYSE:CL) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,516 shares of the company’s stock after acquiring an additional 38,939 shares during the quarter. Rathbones Group PLC’s holdings in Colgate-Palmolive were worth $16,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Maseco LLP acquired a new stake in Colgate-Palmolive during the fourth quarter valued at $27,000. Copia Wealth Management acquired a new stake in Colgate-Palmolive during the third quarter valued at $29,000. Cloud Capital Management LLC acquired a new stake in Colgate-Palmolive during the third quarter valued at $30,000. Global Wealth Strategies & Associates grew its position in Colgate-Palmolive by 300.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares during the period. Finally, Grove Bank & Trust grew its position in Colgate-Palmolive by 182.6% during the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $90.48 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The company has a market cap of $72.59 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 4.69 and a beta of 0.31. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm’s fifty day simple moving average is $86.08 and its two-hundred day simple moving average is $85.11.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a $0.53 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s payout ratio is 82.49%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CL shares. Piper Sandler dropped 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 report on Wednesday, April 8th. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Evercore raised their price target on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.88.

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.