Jefferies Financial Group Inc. Invests $29.52 Million in Colgate-Palmolive Company $CL

Jefferies Financial Group Inc. purchased a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 373,563 shares of the company’s stock, valued at approximately $29,519,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Providence Capital Advisors LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at approximately $5,373,000. ProShare Advisors LLC increased its position in Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after acquiring an additional 202,379 shares during the period. Envestnet Asset Management Inc. increased its position in Colgate-Palmolive by 18.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock valued at $63,996,000 after acquiring an additional 122,202 shares during the period. Citigroup Inc. increased its position in Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after acquiring an additional 409,710 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in Colgate-Palmolive by 248.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock valued at $6,909,000 after acquiring an additional 62,327 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CL has been the topic of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. UBS Group raised their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Piper Sandler lowered their price target on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Performance

CL opened at $90.66 on Friday. The firm has a market cap of $72.74 billion, a PE ratio of 35.28, a P/E/G ratio of 4.71 and a beta of 0.31. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The business has a fifty day simple moving average of $86.11 and a 200-day simple moving average of $85.15. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.91 EPS. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend 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.