Allstate Corp Acquires New Stake in Colgate-Palmolive Company $CL

Allstate Corp bought a new position in Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 27,950 shares of the company’s stock, valued at approximately $2,234,000.

A number of other institutional investors have also modified their holdings of CL. Westside Investment Management Inc. boosted its holdings in shares of Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings 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 valued at $30,000 after acquiring an additional 155 shares in the last quarter. MTM Investment Management LLC purchased a new stake in Colgate-Palmolive in the second quarter worth about $39,000. Louisbourg Investments Inc. boosted its stake in shares of Colgate-Palmolive by 94.7% during the third quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock valued at $41,000 after purchasing an additional 250 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Colgate-Palmolive during the second quarter valued at approximately $44,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CL. Jefferies Financial Group set a $85.00 price target on Colgate-Palmolive in a report on Tuesday, December 16th. UBS Group increased their target price on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Bank of America dropped their price target 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 set a $88.00 price objective on shares of Colgate-Palmolive and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, Raymond James Financial lowered their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

Colgate-Palmolive Trading Up 0.2%

Shares of CL stock opened at $84.49 on Tuesday. 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 debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. The stock’s fifty day moving average is $79.51 and its two-hundred day moving average is $81.62. The firm has a market capitalization of $68.10 billion, a P/E ratio of 23.67, a PEG ratio of 5.73 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last posted 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. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. Colgate-Palmolive’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive Profile

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.