Rathbones Group PLC Boosts Stake in Colgate-Palmolive Company $CL

Rathbones Group PLC boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,986 shares of the company’s stock after buying an additional 13,470 shares during the period. Rathbones Group PLC’s holdings in Colgate-Palmolive were worth $19,431,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after acquiring an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC increased its position in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after purchasing an additional 304,426 shares during the last quarter. Morgan Stanley raised its stake in Colgate-Palmolive by 1.7% during the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after purchasing an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares during the last quarter. Finally, Norges Bank bought a new position in Colgate-Palmolive during the fourth quarter valued at $861,670,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.6%

Shares of NYSE CL opened at $89.86 on Tuesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market capitalization of $71.91 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 4.80 and a beta of 0.33. The stock has a 50 day moving average price of $90.96 and a 200 day moving average price of $89.54. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.30 and a current ratio of 0.45.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period last year, the business posted $0.92 EPS. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CL. Wells Fargo & Company boosted their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a report on Monday. TD Cowen lifted their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Piper Sandler upped their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

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.