Colgate-Palmolive Company $CL Stake Decreased by Strs Ohio

Strs Ohio trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 2.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 263,018 shares of the company’s stock after selling 6,671 shares during the quarter. Strs Ohio’s holdings in Colgate-Palmolive were worth $21,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Grimes & Company Inc. grew its stake in shares of Colgate-Palmolive by 1.0% in the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after purchasing an additional 118 shares in the last quarter. RFG Advisory LLC grew its position in Colgate-Palmolive by 1.4% in the 2nd quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after buying an additional 123 shares in the last quarter. Tiemann Investment Advisors LLC increased its stake in Colgate-Palmolive by 2.1% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock valued at $553,000 after buying an additional 125 shares during the period. Westside Investment Management Inc. raised its position in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Finally, S.A. Mason LLC lifted its stake in shares of Colgate-Palmolive by 3.9% in the 3rd quarter. S.A. Mason LLC now owns 3,499 shares of the company’s stock worth $280,000 after acquiring an additional 130 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $86.67 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. The firm has a market cap of $69.86 billion, a PE ratio of 24.28, a P/E/G ratio of 5.87 and a beta of 0.30. The business has a fifty day simple moving average of $80.07 and a 200-day simple moving average of $81.50. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

Analysts Set New Price Targets

CL has been the topic of a number of research analyst reports. Jefferies Financial Group set a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, December 16th. Raymond James Financial decreased their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Piper Sandler set a $88.00 price objective on Colgate-Palmolive and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Morgan Stanley decreased their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Finally, Bank of America lowered their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.44.

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.