Franklin Resources Inc. Grows Position in Colgate-Palmolive Company $CL

Franklin Resources Inc. grew its position in Colgate-Palmolive Company (NYSE:CL) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,044,168 shares of the company’s stock after acquiring an additional 1,942,946 shares during the quarter. Franklin Resources Inc. owned 0.75% of Colgate-Palmolive worth $477,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Colgate-Palmolive by 76.3% in the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after acquiring an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. grew its position in Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after acquiring an additional 245 shares in the last quarter. Nebula Research & Development LLC grew its position in Colgate-Palmolive by 165.5% in the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after acquiring an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Colgate-Palmolive by 21.7% during the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after acquiring an additional 116,968 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $86.01 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The stock’s fifty day moving average is $86.53 and its two-hundred day moving average is $86.03. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a market capitalization of $68.83 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 4.60 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, analysts expect that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were paid a $0.53 dividend. The ex-dividend date was Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is currently 82.49%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CL shares. Piper Sandler dropped their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Barclays increased their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. UBS Group increased their target price on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

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.