Colgate-Palmolive Company $CL Holdings Raised by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. boosted its stake in Colgate-Palmolive Company (NYSE:CL) by 13.6% in the second quarter, Holdings Channel reports. The institutional investor owned 36,720 shares of the company’s stock after acquiring an additional 4,391 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Colgate-Palmolive were worth $3,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its position in Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth $33,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $78.01 on Friday. Colgate-Palmolive Company has a 1 year low of $77.91 and a 1 year high of $102.61. The firm’s fifty day simple moving average is $83.29 and its 200 day simple moving average is $88.33. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market capitalization of $63.05 billion, a PE ratio of 21.91, a PEG ratio of 4.07 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last posted its earnings results 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. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the business posted $0.91 EPS. Colgate-Palmolive’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

Analysts Set New Price Targets

CL has been the topic of several analyst reports. Morgan Stanley dropped their price target 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. Barclays dropped their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped 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 initiated coverage on shares of Colgate-Palmolive in a research note on Friday. They set a “neutral” rating and a $84.00 price target on the stock. Finally, Citigroup dropped their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $94.83.

Colgate-Palmolive Profile

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.