Premier Path Wealth Partners LLC Raises Holdings in Colgate-Palmolive Company $CL

Premier Path Wealth Partners LLC grew its position in Colgate-Palmolive Company (NYSE:CL) by 10.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,241 shares of the company’s stock after purchasing an additional 310 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $295,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CL. Price T Rowe Associates Inc. MD lifted its holdings in shares of Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after buying an additional 5,269,140 shares during the period. Nuveen LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth $217,593,000. Goldman Sachs Group Inc. lifted its stake in shares of Colgate-Palmolive by 34.5% during the 1st 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. Diamond Hill Capital Management Inc. lifted its stake in shares of Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after purchasing an additional 1,727,105 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $83,837,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.8%

Colgate-Palmolive stock opened at $77.10 on Friday. The stock has a 50-day moving average of $80.45 and a two-hundred day moving average of $86.39. 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 Company has a one year low of $74.62 and a one year high of $100.18. The stock has a market cap of $62.32 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 4.44 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.

Analyst Upgrades and Downgrades

CL has been the subject of a number of analyst reports. UBS Group decreased their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup decreased their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Piper Sandler began coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective for the company. Finally, Bank of America decreased their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Eight equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

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.