MJP Associates Inc. ADV Acquires New Position in Colgate-Palmolive Company $CL

MJP Associates Inc. ADV bought a new position in shares of Colgate-Palmolive Company (NYSE:CL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,212 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after buying an additional 455,198 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. raised its holdings in Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after acquiring an additional 2,045,191 shares during the period. Deutsche Bank AG lifted its position in shares of Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after acquiring an additional 253,604 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Colgate-Palmolive by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after acquiring an additional 177,833 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 1.0%

Shares of CL opened at $78.01 on Friday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The company has a market capitalization of $62.88 billion, a P/E ratio of 21.91, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm’s 50 day simple moving average is $79.18 and its 200 day simple moving average is $85.21.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. UBS Group lowered their price target on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Nine investment 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.