Welch & Forbes LLC Acquires 1,827 Shares of Colgate-Palmolive Company $CL

Welch & Forbes LLC raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.6% during the second quarter, Holdings Channel.com reports. The fund owned 52,730 shares of the company’s stock after purchasing an additional 1,827 shares during the period. Welch & Forbes LLC’s holdings in Colgate-Palmolive were worth $4,793,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CL. Accuvest Global Advisors acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $512,000. Sumitomo Life Insurance Co. lifted its stake in Colgate-Palmolive by 75.7% in the second quarter. Sumitomo Life Insurance Co. now owns 24,243 shares of the company’s stock valued at $2,204,000 after buying an additional 10,444 shares during the period. AlphaStar Capital Management LLC bought a new position in Colgate-Palmolive during the second quarter worth about $370,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth about $249,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $2,372,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.8%

CL opened at $77.10 on Monday. The stock has a market capitalization of $62.32 billion, a P/E ratio of 21.66, a P/E/G ratio of 4.44 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 $74.62 and a 12 month high of $100.18. The firm’s fifty day simple moving average is $80.45 and its 200 day simple moving average is $86.28.

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

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CL. The Goldman Sachs Group reduced their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a report on Friday, October 10th. Finally, 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. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.50.

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.