First Horizon Corp Buys 31,583 Shares of Colgate-Palmolive Company $CL

First Horizon Corp increased its stake in Colgate-Palmolive Company (NYSE:CL) by 231.9% in the first quarter, Holdings Channel.com reports. The firm owned 45,200 shares of the company’s stock after purchasing an additional 31,583 shares during the quarter. First Horizon Corp’s holdings in Colgate-Palmolive were worth $3,852,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its position 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 worth $26,000 after buying an additional 150 shares during the period. TD Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares in 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 valued at $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $26,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $92.31 on Friday. The business’s 50-day simple moving average is $89.91 and its 200 day simple moving average is $88.10. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week 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. The firm has a market capitalization of $73.86 billion, a PE ratio of 35.92, a PEG ratio of 4.80 and a beta of 0.33.

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 analysts’ consensus estimates 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 return on equity of 386.76% and a net margin of 10.04%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Analyst Upgrades and Downgrades

CL has been the subject of a number of recent research reports. Piper Sandler upped their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. UBS Group increased their target price on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $96.29.

About Colgate-Palmolive

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.