NewEdge Wealth LLC Cuts Stock Holdings in Colgate-Palmolive Company $CL

NewEdge Wealth LLC lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 57.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,262 shares of the company’s stock after selling 5,731 shares during the period. NewEdge Wealth LLC’s holdings in Colgate-Palmolive were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Colgate-Palmolive by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares in the last quarter. Morgan Stanley boosted its position in shares of Colgate-Palmolive by 1.7% during the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after buying an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Finally, Norges Bank bought a new stake in Colgate-Palmolive in the 4th quarter worth about $861,670,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CL. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Barclays boosted their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. UBS Group increased their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Bank of America decreased their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Weiss Ratings raised Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $93.75 on Thursday. 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 stock has a market capitalization of $75.02 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 4.88 and a beta of 0.33. The firm’s 50 day moving average price is $90.94 and its 200-day moving average price is $89.35. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend 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 presently 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.