Colgate-Palmolive Company $CL Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 8.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 651,402 shares of the company’s stock after buying an additional 51,620 shares during the period. Cerity Partners LLC’s holdings in Colgate-Palmolive were worth $59,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC raised its holdings in Colgate-Palmolive by 17.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 911 shares of the company’s stock worth $83,000 after purchasing an additional 137 shares in the last quarter. Avestar Capital LLC grew its position in shares of Colgate-Palmolive by 69.0% in the 2nd quarter. Avestar Capital LLC now owns 7,837 shares of the company’s stock valued at $712,000 after buying an additional 3,199 shares during the last quarter. Financial & Tax Architects LLC raised its stake in Colgate-Palmolive by 1,716.6% during the 2nd quarter. Financial & Tax Architects LLC now owns 69,377 shares of the company’s stock worth $6,306,000 after acquiring an additional 65,558 shares in the last quarter. Cresset Asset Management LLC lifted its position in Colgate-Palmolive by 1.2% in the second quarter. Cresset Asset Management LLC now owns 117,283 shares of the company’s stock valued at $10,661,000 after acquiring an additional 1,358 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in Colgate-Palmolive by 8.7% in the second quarter. Epoch Investment Partners Inc. now owns 168,853 shares of the company’s stock valued at $15,349,000 after acquiring an additional 13,520 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CL has been the subject of several research reports. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price for the company. Bank of America cut their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Citigroup decreased 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. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced 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. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Trading Up 0.6%

Shares of CL stock opened at $78.04 on Monday. The company has a market capitalization of $62.91 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 5.56 and a beta of 0.30. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The business’s 50 day moving average is $78.42 and its two-hundred day moving average is $83.99. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results 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. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. 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.