NorthRock Partners LLC Raises Stock Position in Colgate-Palmolive Company $CL

NorthRock Partners LLC lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 11.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,383 shares of the company’s stock after buying an additional 974 shares during the quarter. NorthRock Partners LLC’s holdings in Colgate-Palmolive were worth $853,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Personal CFO Solutions LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $285,000. Vision Capital Management Inc. purchased a new stake in Colgate-Palmolive in the 1st quarter valued at $322,000. Autumn Glory Partners LLC raised its position in Colgate-Palmolive by 67.4% in the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock valued at $851,000 after purchasing an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Colgate-Palmolive in the 1st quarter valued at $2,166,000. Finally, Penserra Capital Management LLC raised its position in Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after purchasing an additional 8,515 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Morgan Stanley dropped 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. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research note on Friday. Finally, Citigroup dropped their price objective 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. Eight 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 presently has an average rating of “Moderate Buy” and a consensus target price of $92.21.

Colgate-Palmolive Stock Up 1.9%

CL opened at $78.43 on Wednesday. The firm has a 50 day moving average price of $82.34 and a 200 day moving average price of $87.67. The company has a market cap of $63.39 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 4.24 and a beta of 0.34. Colgate-Palmolive Company has a 1 year low of $76.68 and a 1 year high of $102.61. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

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, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive Company 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.