BLB&B Advisors LLC Cuts Stake in Colgate-Palmolive Company $CL

BLB&B Advisors LLC cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,882 shares of the company’s stock after selling 360 shares during the quarter. BLB&B Advisors LLC’s holdings in Colgate-Palmolive were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Colgate-Palmolive by 0.6% during the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock worth $7,660,749,000 after acquiring an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the last quarter. Deutsche Bank AG boosted its holdings in Colgate-Palmolive by 3.7% in the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after purchasing an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Colgate-Palmolive by 2.6% in the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock valued at $653,761,000 after purchasing an additional 177,833 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on CL shares. Bank of America decreased their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Barclays reduced their price target on shares of 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. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target on the stock. Citigroup reduced their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Finally, Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Colgate-Palmolive Price Performance

Shares of CL opened at $77.10 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.62 and a fifty-two week high of $100.18. The firm’s 50 day moving average price is $80.45 and its 200 day moving average price is $86.39. The company has a market cap of $62.32 billion, a P/E ratio of 21.66, a PEG ratio of 4.44 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, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share 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. Investors of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a 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%.

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.