Colgate-Palmolive Company $CL Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 1.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 71,606 shares of the company’s stock after selling 704 shares during the period. Johnson Investment Counsel Inc.’s holdings in Colgate-Palmolive were worth $6,509,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CL. Westend Capital Management LLC lifted its stake 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 acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after acquiring an additional 287 shares during the last quarter. Saudi Central Bank purchased a new position in Colgate-Palmolive during the 1st quarter worth approximately $29,000. Ransom Advisory Ltd purchased a new position in Colgate-Palmolive during the 1st quarter worth approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Colgate-Palmolive during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $77.99 on Monday. The company has a market cap of $63.03 billion, a P/E ratio of 21.91, a P/E/G ratio of 4.29 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 52 week low of $77.09 and a 52 week high of $102.61. The business has a fifty day simple moving average of $82.56 and a 200-day simple moving average of $87.84.

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

Colgate-Palmolive Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CL. Bank of America dropped their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Barclays dropped their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley dropped their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target on the stock. Finally, UBS Group decreased their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.21.

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.