Welch Group LLC Boosts Holdings in Colgate-Palmolive Company $CL

Welch Group LLC lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 626,828 shares of the company’s stock after buying an additional 13,652 shares during the period. Colgate-Palmolive makes up approximately 2.0% of Welch Group LLC’s portfolio, making the stock its 26th largest position. Welch Group LLC owned about 0.08% of Colgate-Palmolive worth $53,425,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management increased its position in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Wells Fargo & Company cut their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Stock Up 1.1%

Shares of CL opened at $92.06 on Friday. The stock has a market capitalization of $73.66 billion, a PE ratio of 35.82, a P/E/G ratio of 4.80 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company’s 50-day simple moving average is $88.07 and its 200-day simple moving average is $87.04.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

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.