First Bancorp Inc ME Boosts Stock Position in Colgate-Palmolive Company $CL

First Bancorp Inc ME lifted its position in Colgate-Palmolive Company (NYSE:CL) by 8.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,145 shares of the company’s stock after purchasing an additional 417 shares during the quarter. First Bancorp Inc ME’s holdings in Colgate-Palmolive were worth $468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Westend Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake 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 bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $29,000. Ransom Advisory Ltd bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $37,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 1.4%

CL stock opened at $79.14 on Friday. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $100.54. The business’s 50 day moving average price is $81.96 and its two-hundred day moving average price is $87.34. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company has a market capitalization of $63.96 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 4.64 and a beta of 0.34.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CL. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Piper Sandler began coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price for the company. Citigroup lowered their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Finally, Bank of America lowered their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus 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.