VIRGINIA RETIREMENT SYSTEMS ET Al Has $106.54 Million Stake in Colgate-Palmolive Company $CL

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 44.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,332,700 shares of the company’s stock after purchasing an additional 410,400 shares during the quarter. Colgate-Palmolive makes up about 0.7% of VIRGINIA RETIREMENT SYSTEMS ET Al’s portfolio, making the stock its 25th largest holding. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Colgate-Palmolive were worth $106,536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. boosted its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $33,000. MTM Investment Management LLC acquired a new stake in Colgate-Palmolive during the second quarter worth approximately $39,000. Finally, Louisbourg Investments Inc. increased its holdings in Colgate-Palmolive by 94.7% in the third quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock worth $41,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research analyst reports. Bank of America cut their price target 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 cut their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Monday, November 3rd. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Finally, Citigroup decreased their target price on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Ten 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 company. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $88.81.

Colgate-Palmolive Stock Performance

NYSE CL opened at $79.51 on Wednesday. The company has a fifty day moving average price of $78.54 and a 200-day moving average price of $82.46. The firm has a market cap of $64.09 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 5.68 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly 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 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 14.47% and a return on equity of 333.39%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. As a group, equities research analysts predict 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. Stockholders of record on Wednesday, January 21st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

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.