Arrowstreet Capital Limited Partnership Purchases 101,658 Shares of Colgate-Palmolive Company $CL

Arrowstreet Capital Limited Partnership grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,460,629 shares of the company’s stock after buying an additional 101,658 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.68% of Colgate-Palmolive worth $431,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its holdings in shares of Colgate-Palmolive by 35.3% during the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after purchasing an additional 122,634 shares during the period. Citigroup Inc. boosted its holdings in shares of Colgate-Palmolive by 43.7% during the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after purchasing an additional 409,710 shares during the period. GAMMA Investing LLC lifted its holdings in Colgate-Palmolive by 114.2% in the fourth quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock worth $1,843,000 after buying an additional 12,437 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Colgate-Palmolive by 217.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 40,605 shares of the company’s stock worth $3,246,000 after buying an additional 27,796 shares during the period. Finally, Avior Wealth Management LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $1,135,000. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CL. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Piper Sandler lowered their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Up 0.0%

Shares of CL stock opened at $89.40 on Friday. The stock has a market cap of $71.54 billion, a P/E ratio of 34.79, a PEG ratio of 4.72 and a beta of 0.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The company’s fifty day simple moving average is $86.85 and its two-hundred day simple moving average is $86.25.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is 82.49%.

Colgate-Palmolive Company 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.