Intech Investment Management LLC Increases Stock Position in Colgate-Palmolive Company $CL

Intech Investment Management LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 21.5% during the second quarter, HoldingsChannel reports. The fund owned 719,169 shares of the company’s stock after purchasing an additional 127,149 shares during the quarter. Colgate-Palmolive comprises about 0.6% of Intech Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. Intech Investment Management LLC’s holdings in Colgate-Palmolive were worth $65,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its stake in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Saudi Central Bank bought a new stake in shares of Colgate-Palmolive during the first quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in shares of Colgate-Palmolive in the first quarter valued at approximately $33,000. Y.D. More Investments Ltd purchased a new position in Colgate-Palmolive during the first quarter valued at approximately $37,000. Finally, Atticus Wealth Management LLC increased its holdings in Colgate-Palmolive by 156.8% during the 2nd quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock worth $44,000 after acquiring an additional 298 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $78.01 on Friday. The company has a fifty day moving average of $79.18 and a 200-day moving average of $85.26. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The stock has a market capitalization of $62.88 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. 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 released its earnings results on Friday, October 31st. The company reported $0.91 earnings per share 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 analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were given a $0.52 dividend. The ex-dividend date was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is presently 58.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays reduced their price target on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a report on Friday, October 10th. Morgan Stanley cut their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. UBS Group dropped their target price on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target on the stock. Nine 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. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $89.87.

About Colgate-Palmolive

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.