Cornerstone Planning LLC Invests $1.44 Million in Colgate-Palmolive Company $CL

Cornerstone Planning LLC acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 18,158 shares of the company’s stock, valued at approximately $1,442,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC raised its position in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management raised its position in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in Colgate-Palmolive in the 4th quarter worth approximately $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CL. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Barclays lifted their price objective on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Piper Sandler cut their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Finally, TD Cowen reaffirmed a “hold” rating and set a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Performance

CL opened at $89.74 on Friday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $71.81 billion, a PE ratio of 34.92, a P/E/G ratio of 4.72 and a beta of 0.33. The firm has a 50 day moving average of $87.40 and a two-hundred day moving average of $86.60.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. On average, analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

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.