Colgate-Palmolive Company $CL Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,788 shares of the company’s stock after acquiring an additional 829 shares during the quarter. Metis Global Partners LLC’s holdings in Colgate-Palmolive were worth $2,980,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its stake in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Saudi Central Bank purchased a new position in shares of Colgate-Palmolive in the first quarter worth $29,000. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive during the first quarter worth $33,000. Y.D. More Investments Ltd purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at $37,000. Finally, Atticus Wealth Management LLC increased its position in shares of Colgate-Palmolive by 156.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.9%

Shares of CL stock opened at $78.76 on Monday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The stock has a market cap of $63.48 billion, a P/E ratio of 22.12, a P/E/G ratio of 4.44 and a beta of 0.35. The stock has a 50 day moving average of $79.73 and a 200 day moving average of $85.64. 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 (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

Analyst Ratings Changes

A number of analysts have commented on the company. Raymond James Financial lowered their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Bank of America reduced their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Finally, Evercore ISI decreased their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.87.

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.