Colgate-Palmolive Company $CL Stock Holdings Trimmed by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 7.3% during the third quarter, Holdings Channel.com reports. The firm owned 100,420 shares of the company’s stock after selling 7,890 shares during the period. Modera Wealth Management LLC’s holdings in Colgate-Palmolive were worth $8,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CL. Vanguard Group Inc. increased its stake in shares of Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after acquiring an additional 993,432 shares during the period. Norges Bank bought a new stake in Colgate-Palmolive during the second quarter worth approximately $960,390,000. Invesco Ltd. grew its holdings in shares of Colgate-Palmolive by 9.1% in the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after acquiring an additional 621,841 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after purchasing an additional 1,839,853 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after buying an additional 3,768,784 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL opened at $86.67 on Friday. The stock has a market cap of $69.86 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 5.87 and a beta of 0.30. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The stock has a fifty day moving average price of $80.07 and a 200 day moving average price of $81.50.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping 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 333.39% and a net margin of 14.47%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. Analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s payout ratio is 58.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CL shares. Argus restated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Bank of America reduced their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Tuesday, December 9th. UBS Group increased their price objective on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Piper Sandler set a $88.00 target price on Colgate-Palmolive and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.