North Star Asset Management Inc. Raises Stake in Colgate-Palmolive Company $CL

North Star Asset Management Inc. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 15.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,982 shares of the company’s stock after buying an additional 1,635 shares during the quarter. North Star Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Saudi Central Bank acquired a new position in Colgate-Palmolive in the first quarter valued at $29,000. Ransom Advisory Ltd purchased a new position in Colgate-Palmolive during the first quarter worth about $33,000. Y.D. More Investments Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $37,000. Finally, MTM Investment Management LLC purchased a new stake in Colgate-Palmolive in the 2nd quarter valued at about $39,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CL. Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Evercore ISI decreased their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. The Goldman Sachs Group dropped their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. JPMorgan Chase & Co. reduced their target price on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Finally, Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target for the company. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $79.83 on Wednesday. The firm’s fifty day simple moving average is $78.64 and its 200 day simple moving average is $84.60. 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 twelve month low of $74.54 and a twelve month high of $100.18. The firm has a market capitalization of $64.35 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion for 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%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

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.