Bessemer Group Inc. Purchases 2,650 Shares of Colgate-Palmolive Company $CL

Bessemer Group Inc. raised its position in Colgate-Palmolive Company (NYSE:CL) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,264 shares of the company’s stock after purchasing an additional 2,650 shares during the quarter. Bessemer Group Inc.’s holdings in Colgate-Palmolive were worth $1,751,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CL. Cornerstone Planning Group LLC increased its stake in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares during the period. Saudi Central Bank bought a new stake in Colgate-Palmolive during the 1st quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in Colgate-Palmolive in the 1st quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Colgate-Palmolive during the first quarter valued at $37,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Colgate-Palmolive during the first quarter worth $37,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 1.1%

NYSE CL opened at $76.54 on Friday. The stock has a market capitalization of $61.86 billion, a P/E ratio of 21.50, a P/E/G ratio of 4.44 and a beta of 0.34. The business has a 50 day simple moving average of $80.62 and a 200 day simple moving average of $86.51. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a one year low of $75.38 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays decreased their price objective on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. The Goldman Sachs Group cut their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. 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. Finally, Raymond James Financial lowered their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $91.50.

About Colgate-Palmolive

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.