Accredited Investors Inc. Has $396,000 Stock Position in Colgate-Palmolive Company $CL

Accredited Investors Inc. reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 61.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,651 shares of the company’s stock after selling 7,302 shares during the period. Accredited Investors Inc.’s holdings in Colgate-Palmolive were worth $396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $861,670,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $236,682,000. Deutsche Bank AG grew its holdings in Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after buying an additional 2,746,920 shares during the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in Colgate-Palmolive by 8,123.0% in the 1st quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company’s stock valued at $201,072,000 after buying an additional 2,330,476 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. Sanford C. Bernstein began coverage on Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target for the company. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Piper Sandler raised their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.29.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $92.31 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 market capitalization of $73.86 billion, a P/E ratio of 35.92, a P/E/G ratio of 4.80 and a beta of 0.33. The stock has a 50 day moving average of $89.91 and a two-hundred day moving average of $88.10. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, equities analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid 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 2.3%. 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.