Concord Asset Management LLC VA Lowers Stock Holdings in Colgate-Palmolive Company $CL

Concord Asset Management LLC VA reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,504 shares of the company’s stock after selling 548 shares during the quarter. Concord Asset Management LLC VA’s holdings in Colgate-Palmolive were worth $1,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CL. Vanguard Group Inc. lifted its holdings in shares of Colgate-Palmolive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after buying an additional 455,198 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after purchasing an additional 2,045,191 shares during the last quarter. Deutsche Bank AG raised its holdings in Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after purchasing an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after purchasing an additional 177,833 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $77.99 on Monday. Colgate-Palmolive Company has a 1-year low of $77.09 and a 1-year high of $102.61. The business has a 50-day moving average of $82.56 and a 200-day moving average of $87.84. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The company has a market capitalization of $63.03 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.29 and a beta of 0.34.

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

Colgate-Palmolive Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CL shares. UBS Group cut their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler started coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Bank of America cut their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Finally, Morgan Stanley lowered their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $92.21.

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.