SVB Wealth LLC Takes Position in Colgate-Palmolive Company $CL

SVB Wealth LLC bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,596 shares of the company’s stock, valued at approximately $1,781,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Norges Bank bought a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $960,390,000. Invesco Ltd. raised its stake in Colgate-Palmolive by 9.1% during the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after buying an additional 621,841 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Colgate-Palmolive by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock valued at $653,761,000 after buying an additional 177,833 shares during the period. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CL shares. Bank of America reduced their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday, October 10th. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research report on Tuesday. Finally, Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $89.00.

Colgate-Palmolive Trading Down 2.5%

Shares of CL opened at $76.11 on Tuesday. The firm has a market cap of $61.35 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 5.56 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The company has a 50 day simple moving average of $78.34 and a two-hundred day simple moving average of $83.89.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. Colgate-Palmolive’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. On average, equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.