Columbus Macro LLC Raises Position in Colgate-Palmolive Company $CL

Columbus Macro LLC grew its stake in Colgate-Palmolive Company (NYSE:CL) by 10.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,407 shares of the company’s stock after purchasing an additional 11,022 shares during the period. Colgate-Palmolive makes up about 1.1% of Columbus Macro LLC’s portfolio, making the stock its 29th biggest position. Columbus Macro LLC’s holdings in Colgate-Palmolive were worth $9,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CL. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC grew its holdings in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC grew its holdings in Colgate-Palmolive by 61.4% during 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 Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive in the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $91.06 on Friday. The firm has a market cap of $72.86 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 4.84 and a beta of 0.33. The firm’s 50 day simple moving average is $87.90 and its 200-day simple moving average is $87.01. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during 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 company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CL shares. Bank of America cut their target price on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Piper Sandler dropped their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

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.