Vanguard Group Inc. Has $7.52 Billion Stock Holdings in Colgate-Palmolive Company $CL

Vanguard Group Inc. increased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,751,689 shares of the company’s stock after buying an additional 993,432 shares during the period. Vanguard Group Inc. owned 10.24% of Colgate-Palmolive worth $7,522,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invenio Wealth Partners LLC lifted its position in shares of Colgate-Palmolive by 29.4% during the second quarter. Invenio Wealth Partners LLC now owns 3,297 shares of the company’s stock worth $300,000 after purchasing an additional 749 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in Colgate-Palmolive by 29.9% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,462 shares of the company’s stock worth $769,000 after purchasing an additional 1,947 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Colgate-Palmolive by 1.6% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 17,158 shares of the company’s stock worth $1,560,000 after purchasing an additional 267 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Colgate-Palmolive by 4.8% during the 2nd quarter. Rothschild Investment LLC now owns 5,375 shares of the company’s stock worth $489,000 after buying an additional 247 shares in the last quarter. Finally, Raiffeisen Bank International AG boosted its position in Colgate-Palmolive by 1.6% in the 2nd quarter. Raiffeisen Bank International AG now owns 435,472 shares of the company’s stock valued at $38,234,000 after buying an additional 6,885 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Citigroup dropped their price objective on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. The Goldman Sachs Group reduced their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Stock Up 0.7%

Shares of NYSE CL opened at $79.37 on Wednesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a market cap of $63.98 billion, a P/E ratio of 22.29, a P/E/G ratio of 4.44 and a beta of 0.35. The firm has a 50 day moving average price of $78.98 and a 200 day moving average price of $85.00.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period last year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, October 17th. Colgate-Palmolive’s payout ratio is presently 58.26%.

About Colgate-Palmolive

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.