Wesleyan Assurance Society Reduces Position in Colgate-Palmolive Company $CL

Wesleyan Assurance Society cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 0.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 142,687 shares of the company’s stock after selling 280 shares during the quarter. Wesleyan Assurance Society’s holdings in Colgate-Palmolive were worth $12,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares during the last quarter. Saudi Central Bank bought a new position in Colgate-Palmolive in the first quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in Colgate-Palmolive in the first quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Colgate-Palmolive in the first quarter valued at about $37,000. Finally, Y.D. More Investments Ltd bought a new position in Colgate-Palmolive in the first quarter valued at about $37,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CL shares. Piper Sandler started coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Friday. Bank of America lowered their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Colgate-Palmolive Stock Down 0.6%

CL stock opened at $78.01 on Monday. Colgate-Palmolive Company has a twelve month low of $76.68 and a twelve month high of $100.18. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock has a market cap of $63.05 billion, a P/E ratio of 21.91, a PEG ratio of 4.58 and a beta of 0.34. The business’s 50-day moving average price is $81.33 and its 200-day moving average price is $86.90.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

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.