Royal Bank of Canada Raises Stake in Colgate-Palmolive Company $CL

Royal Bank of Canada lifted its position in Colgate-Palmolive Company (NYSE:CL) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,940,013 shares of the company’s stock after purchasing an additional 208,806 shares during the period. Royal Bank of Canada’s holdings in Colgate-Palmolive were worth $421,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. TD Capital Management LLC grew its position in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management lifted its position in shares of Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new position in Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.0%

NYSE CL opened at $92.87 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm has a market capitalization of $74.32 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 4.84 and a beta of 0.33. The company has a fifty day moving average of $90.87 and a two-hundred day moving average of $89.26.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post 3.81 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, August 14th. Stockholders of record on Monday, July 20th will be paid 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 dividend payout ratio is currently 82.49%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CL shares. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. TD Cowen reissued a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Citigroup upped their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Finally, Piper Sandler boosted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.82.

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.