NewEdge Wealth LLC Decreases Stake in Colgate-Palmolive Company $CL

NewEdge Wealth LLC trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 57.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,262 shares of the company’s stock after selling 5,731 shares during the quarter. NewEdge Wealth LLC’s holdings in Colgate-Palmolive were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. raised its stake in shares of Colgate-Palmolive by 4.5% during the first quarter. First Citizens Bank & Trust Co. now owns 13,483 shares of the company’s stock valued at $1,149,000 after acquiring an additional 581 shares during the last quarter. ABN Amro Investment Solutions increased its holdings in Colgate-Palmolive by 7.9% during the 1st quarter. ABN Amro Investment Solutions now owns 140,942 shares of the company’s stock valued at $12,012,000 after purchasing an additional 10,264 shares during the period. PNC Financial Services Group Inc. increased its holdings in Colgate-Palmolive by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 899,670 shares of the company’s stock valued at $76,679,000 after purchasing an additional 9,279 shares during the period. HORAN Wealth LLC raised its position in Colgate-Palmolive by 108.7% during the 1st quarter. HORAN Wealth LLC now owns 9,308 shares of the company’s stock valued at $742,000 after purchasing an additional 4,849 shares during the last quarter. Finally, DJE Kapital AG lifted its holdings in Colgate-Palmolive by 821.6% in the 1st quarter. DJE Kapital AG now owns 616,276 shares of the company’s stock worth $52,339,000 after buying an additional 549,405 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CL has been the topic of several research analyst reports. Piper Sandler boosted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 price target on shares of Colgate-Palmolive in a report 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. Finally, Barclays raised their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $93.75 on Thursday. The company has a 50 day simple moving average of $90.94 and a two-hundred day simple moving average of $89.35. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a market capitalization of $75.02 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 4.88 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02.

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

Colgate-Palmolive Announces Dividend

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

About Colgate-Palmolive

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.