Welch Group LLC Increases Stake in Colgate-Palmolive Company $CL

Welch Group LLC boosted its stake in Colgate-Palmolive Company (NYSE:CL) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 665,041 shares of the company’s stock after purchasing an additional 9,689 shares during the period. Colgate-Palmolive comprises 2.5% of Welch Group LLC’s investment portfolio, making the stock its 13th largest position. Welch Group LLC’s holdings in Colgate-Palmolive were worth $60,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CL. Westend Capital Management LLC increased its stake 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 purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC increased its stake 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 purchasing an additional 287 shares during the period. Saudi Central Bank purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $29,000. Ransom Advisory Ltd purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $37,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $77.99 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The business’s fifty day moving average is $82.56 and its 200 day moving average is $87.84. Colgate-Palmolive Company has a twelve month low of $77.09 and a twelve month high of $102.61. The stock has a market cap 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 released its earnings results on Friday, August 1st. The company reported $0.92 EPS 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 business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley decreased their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. UBS Group reduced their target price on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a research note on Friday. Finally, The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.