Kentucky Retirement Systems Purchases 22,092 Shares of Colgate-Palmolive Company $CL

Kentucky Retirement Systems boosted its holdings in Colgate-Palmolive Company (NYSE:CL) by 43.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,567 shares of the company’s stock after buying an additional 22,092 shares during the quarter. Kentucky Retirement Systems’ holdings in Colgate-Palmolive were worth $6,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in shares of Colgate-Palmolive by 108.1% during the first quarter. Janus Henderson Group PLC now owns 124,079 shares of the company’s stock worth $10,574,000 after purchasing an additional 64,455 shares during the period. Arkadios Wealth Advisors increased its holdings in Colgate-Palmolive by 1.2% in the first quarter. Arkadios Wealth Advisors now owns 21,410 shares of the company’s stock valued at $1,825,000 after purchasing an additional 261 shares during the period. Smith Group Asset Management LLC bought a new position in Colgate-Palmolive during the 1st quarter worth $872,000. Gould Capital LLC raised its position in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Colgate-Palmolive by 33.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,548 shares of the company’s stock worth $814,000 after buying an additional 2,401 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CL shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Bank of America cut their price objective 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 reiterated a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Citigroup increased their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.82.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $93.75 on Thursday. The company has a fifty day moving average of $90.94 and a 200-day moving average of $89.35. The firm has a market capitalization of $75.02 billion, a P/E ratio of 36.48, a P/E/G ratio of 4.88 and a beta of 0.33. 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 twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

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.