Colgate-Palmolive Company $CL Shares Bought by Conning Inc.

Conning Inc. lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 387,098 shares of the company’s stock after purchasing an additional 11,075 shares during the quarter. Conning Inc.’s holdings in Colgate-Palmolive were worth $30,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CL. Westside Investment Management Inc. increased its position in Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in shares of Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 155 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of Colgate-Palmolive during the second quarter worth about $39,000. Louisbourg Investments Inc. increased its holdings in shares of Colgate-Palmolive by 94.7% in the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock worth $41,000 after acquiring an additional 250 shares during the period. Finally, Atticus Wealth Management LLC lifted its position in Colgate-Palmolive by 156.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CL. UBS Group raised their price target on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company set a $86.00 target price on Colgate-Palmolive and gave the company an “equal weight” rating in a research report on Tuesday. Evercore ISI reduced their price target on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. The Goldman Sachs Group lowered their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Finally, Bank of America cut their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.94.

Colgate-Palmolive Trading Up 1.9%

Shares of CL stock opened at $84.53 on Thursday. The stock has a 50-day simple moving average of $79.13 and a 200 day simple moving average of $81.84. The stock has a market capitalization of $68.14 billion, a P/E ratio of 23.68, a P/E/G ratio of 5.62 and a beta of 0.30. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the previous year, the business earned $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

About Colgate-Palmolive

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.