Y Intercept Hong Kong Ltd Buys Shares of 141,675 Colgate-Palmolive Company $CL

Y Intercept Hong Kong Ltd purchased a new position in Colgate-Palmolive Company (NYSE:CL) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 141,675 shares of the company’s stock, valued at approximately $12,075,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $861,670,000. Northwestern Mutual Wealth Management Co. raised its stake in Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after acquiring an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $236,682,000. Deutsche Bank AG boosted its position in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. Finally, Diamant Asset Management Inc. raised its position in shares of Colgate-Palmolive by 8,123.0% during the 1st quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company’s stock valued at $201,072,000 after purchasing an additional 2,330,476 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CL has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Bank of America decreased their target price on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $99.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Finally, Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $95.17 on Friday. The company has a market cap of $76.15 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 4.89 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The stock’s 50 day simple moving average is $88.81 and its two-hundred day simple moving average is $87.56. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company 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%. Colgate-Palmolive’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.2%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 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.