Evelyn Partners Asset Management Ltd Increases Position in Colgate-Palmolive Company $CL

Evelyn Partners Asset Management Ltd grew its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1,450.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,570 shares of the company’s stock after purchasing an additional 19,243 shares during the period. Colgate-Palmolive makes up about 0.5% of Evelyn Partners Asset Management Ltd’s holdings, making the stock its 27th largest holding. Evelyn Partners Asset Management Ltd’s holdings in Colgate-Palmolive were worth $1,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Journey Strategic Wealth LLC purchased a new position in Colgate-Palmolive during the 2nd quarter valued at about $702,000. MAI Capital Management increased its stake in Colgate-Palmolive by 1.0% during the second quarter. MAI Capital Management now owns 45,845 shares of the company’s stock worth $4,167,000 after purchasing an additional 439 shares during the period. Neo Ivy Capital Management lifted its position in shares of Colgate-Palmolive by 22.8% during the second quarter. Neo Ivy Capital Management now owns 12,344 shares of the company’s stock worth $1,122,000 after purchasing an additional 2,292 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Colgate-Palmolive by 38.0% in the second quarter. DNB Asset Management AS now owns 919,833 shares of the company’s stock valued at $83,613,000 after purchasing an additional 253,174 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Colgate-Palmolive by 6.5% in the second quarter. Swiss National Bank now owns 2,332,400 shares of the company’s stock valued at $212,015,000 after purchasing an additional 143,300 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL opened at $80.97 on Friday. The company has a market capitalization of $65.27 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock has a 50 day moving average price of $78.73 and a 200 day moving average price of $84.84.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. Research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a report on Friday, October 10th. Finally, Evercore ISI decreased their price objective on 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 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Profile

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.