Baxter Bros Inc. Lowers Position in Colgate-Palmolive Company $CL

Baxter Bros Inc. cut its stake in Colgate-Palmolive Company (NYSE:CL) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,430 shares of the company’s stock after selling 843 shares during the quarter. Baxter Bros Inc.’s holdings in Colgate-Palmolive were worth $1,675,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of CL. Westend Capital Management LLC increased its position in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $29,000. Ransom Advisory Ltd purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $37,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $77.96 on Thursday. 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 Company has a fifty-two week low of $77.09 and a fifty-two week high of $102.61. The stock has a market cap of $63.01 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34. The stock has a fifty day moving average of $82.79 and a 200-day moving average of $88.08.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Morgan Stanley reduced their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Piper Sandler started coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective for the company. Bank of America reduced their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup reduced their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.23.

Colgate-Palmolive Company 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.