Barrett & Company Inc. Acquires 1,852 Shares of Colgate-Palmolive Company $CL

Barrett & Company Inc. lifted its holdings in Colgate-Palmolive Company (NYSE:CL) by 617.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,152 shares of the company’s stock after acquiring an additional 1,852 shares during the period. Barrett & Company Inc.’s holdings in Colgate-Palmolive were worth $196,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ameritas Advisory Services LLC grew its stake in shares of Colgate-Palmolive by 22.9% in the second quarter. Ameritas Advisory Services LLC now owns 3,059 shares of the company’s stock valued at $278,000 after acquiring an additional 570 shares in the last quarter. HighMark Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the second quarter valued at about $273,000. Mattern Capital Management LLC grew its stake in shares of Colgate-Palmolive by 1.5% in the second quarter. Mattern Capital Management LLC now owns 96,701 shares of the company’s stock valued at $8,790,000 after acquiring an additional 1,396 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Colgate-Palmolive in the second quarter valued at about $269,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Colgate-Palmolive by 16.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,858 shares of the company’s stock valued at $18,258,000 after acquiring an additional 28,875 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE CL opened at $78.01 on Friday. The company has a 50 day simple moving average of $83.29 and a 200 day simple moving average of $88.33. The firm has a market cap of $63.05 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.07 and a beta of 0.34. Colgate-Palmolive Company has a 1 year low of $77.91 and a 1 year high of $102.61. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. On average, research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

Wall Street Analysts Forecast Growth

CL has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Friday. They set a “neutral” rating and a $84.00 price objective on the stock. UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. The Goldman Sachs Group reduced their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.83.

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.