Intech Investment Management LLC Cuts Position in Colgate-Palmolive Company $CL

Intech Investment Management LLC cut its stake in Colgate-Palmolive Company (NYSE:CL) by 42.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 391,932 shares of the company’s stock after selling 285,082 shares during the quarter. Intech Investment Management LLC’s holdings in Colgate-Palmolive were worth $30,970,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Colgate-Palmolive by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after acquiring an additional 1,026,985 shares during the period. Geode Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after acquiring an additional 304,426 shares during the period. Invesco Ltd. grew its holdings in Colgate-Palmolive by 13.1% in the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock worth $676,931,000 after purchasing an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Colgate-Palmolive by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock worth $625,758,000 after purchasing an additional 29,876 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America cut their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. UBS Group boosted their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Piper Sandler dropped their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Citigroup boosted their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Up 0.4%

Shares of CL stock opened at $91.69 on Friday. The stock’s fifty day moving average price is $86.24 and its 200 day moving average price is $85.60. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The company has a market cap of $73.37 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 4.74 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last issued 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 return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s 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.