Optas LLC Has $1.41 Million Holdings in Colgate-Palmolive Company $CL

Optas LLC reduced its holdings in Colgate-Palmolive Company (NYSE:CL) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,539 shares of the company’s stock after selling 358 shares during the quarter. Optas LLC’s holdings in Colgate-Palmolive were worth $1,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Westend Capital Management LLC lifted its holdings in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank acquired a new position in Colgate-Palmolive during the 1st quarter worth $29,000. Ransom Advisory Ltd acquired a new position in Colgate-Palmolive during the 1st quarter worth $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Colgate-Palmolive during the 1st quarter worth $37,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Bank of America dropped their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.23.

Colgate-Palmolive Price Performance

CL stock opened at $77.96 on Thursday. The stock has a 50-day moving average price of $82.79 and a two-hundred day moving average price of $88.08. The stock has a market cap of $63.01 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 1 year low of $77.09 and a 1 year high of $102.61.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.