US Bancorp DE Trims Position in Colgate-Palmolive Company $CL

US Bancorp DE cut its position in Colgate-Palmolive Company (NYSE:CL) by 3.0% in the second quarter, HoldingsChannel.com reports. The firm owned 351,322 shares of the company’s stock after selling 10,916 shares during the quarter. US Bancorp DE’s holdings in Colgate-Palmolive were worth $31,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Personal CFO Solutions LLC bought a new position in shares of Colgate-Palmolive during the first quarter worth $285,000. Vision Capital Management Inc. bought a new position in shares of Colgate-Palmolive during the first quarter worth $322,000. Autumn Glory Partners LLC boosted its position in shares of Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock worth $851,000 after acquiring an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Colgate-Palmolive during the first quarter worth $2,166,000. Finally, Penserra Capital Management LLC boosted its position in shares of Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after acquiring an additional 8,515 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CL. The Goldman Sachs Group dropped their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research report on Friday. Bank of America lowered their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday. Finally, Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.21.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $77.99 on Friday. The firm has a 50-day moving average price of $82.56 and a 200-day moving average price of $87.91. The firm has a market capitalization of $63.03 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.28 and a beta of 0.34. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 12-month low of $77.09 and a 12-month high of $102.61.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm 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 business’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

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.