Johnson Investment Counsel Inc. Cuts Stock Position in Colgate-Palmolive Company $CL

Johnson Investment Counsel Inc. lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,606 shares of the company’s stock after selling 704 shares during the period. Johnson Investment Counsel Inc.’s holdings in Colgate-Palmolive were worth $6,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC increased its position in shares of Colgate-Palmolive by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock worth $847,000 after purchasing an additional 110 shares in the last quarter. Grimes & Company Inc. increased its position in shares of Colgate-Palmolive by 1.0% during the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after purchasing an additional 118 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after purchasing an additional 129 shares in the last quarter. MONECO Advisors LLC increased its position in shares of Colgate-Palmolive by 2.2% during the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock worth $567,000 after purchasing an additional 133 shares in the last quarter. Finally, Ledyard National Bank increased its position in shares of Colgate-Palmolive by 4.5% during the first quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock worth $290,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Morgan Stanley dropped their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Bank of America lowered their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Piper Sandler began coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Stock Performance

NYSE CL opened at $77.99 on Monday. Colgate-Palmolive Company has a fifty-two week low of $77.09 and a fifty-two week high of $102.61. The stock’s fifty day moving average is $82.56 and its two-hundred day moving average is $87.84. The firm has a market capitalization of $63.03 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 4.29 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Colgate-Palmolive Company 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.