AlTi Global Inc. Boosts Holdings in Colgate-Palmolive Company $CL

AlTi Global Inc. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 27.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,038 shares of the company’s stock after purchasing an additional 661 shares during the quarter. AlTi Global Inc.’s holdings in Colgate-Palmolive were worth $276,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Westend Capital Management LLC grew its holdings in shares of 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 purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC grew its holdings in shares of 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 purchasing an additional 287 shares during the period. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $29,000. Ransom Advisory Ltd purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $33,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $78.01 on Friday. The business’s 50 day moving average is $81.33 and its two-hundred day moving average is $86.93. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $100.18. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.58 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 (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (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 company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the company posted $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. Piper Sandler began coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Raymond James Financial reduced their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Colgate-Palmolive Company 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.