Colgate-Palmolive Company $CL Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 55.8% during the third quarter, HoldingsChannel reports. The fund owned 13,503 shares of the company’s stock after selling 17,031 shares during the quarter. Simplicity Wealth LLC’s holdings in Colgate-Palmolive were worth $1,079,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. CNB Bank lifted its position in shares of Colgate-Palmolive by 268.6% during the third quarter. CNB Bank now owns 6,277 shares of the company’s stock worth $502,000 after purchasing an additional 4,574 shares during the last quarter. Wilkins Investment Counsel Inc. raised its stake in Colgate-Palmolive by 1.3% during the third quarter. Wilkins Investment Counsel Inc. now owns 109,339 shares of the company’s stock valued at $8,741,000 after buying an additional 1,350 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in Colgate-Palmolive by 1.8% during the third quarter. Avidian Wealth Enterprises LLC now owns 9,068 shares of the company’s stock valued at $725,000 after buying an additional 162 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $2,340,000. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of Colgate-Palmolive by 1.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,387 shares of the company’s stock valued at $724,000 after acquiring an additional 136 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Jefferies Financial Group set a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, December 16th. Piper Sandler set a $88.00 price objective on shares of Colgate-Palmolive and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Evercore ISI dropped their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research note on Tuesday, December 9th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Trading Up 1.0%

Shares of NYSE:CL opened at $86.67 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. The company’s 50-day moving average price is $80.07 and its 200 day moving average price is $81.58. The company has a market cap of $69.86 billion, a PE ratio of 24.28, a P/E/G ratio of 5.82 and a beta of 0.30. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s payout ratio is presently 58.26%.

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.