Federated Hermes Inc. Has $42.44 Million Stake in Colgate-Palmolive Company $CL

Federated Hermes Inc. reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 466,895 shares of the company’s stock after selling 133,279 shares during the quarter. Federated Hermes Inc. owned 0.06% of Colgate-Palmolive worth $42,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CL. Westside Investment Management Inc. lifted its stake in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $33,000. Finally, MTM Investment Management LLC purchased a new position in Colgate-Palmolive during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CL. Bank of America decreased their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup reduced their price objective on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Finally, Piper Sandler started coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $76.11 on Tuesday. The business’s 50-day simple moving average is $78.34 and its 200-day simple moving average is $83.89. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The firm has a market cap of $61.35 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 5.56 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 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.