Burney Co. Purchases 2,839 Shares of Colgate-Palmolive Company $CL

Burney Co. grew its position in Colgate-Palmolive Company (NYSE:CL) by 11.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,038 shares of the company’s stock after buying an additional 2,839 shares during the period. Burney Co.’s holdings in Colgate-Palmolive were worth $2,458,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. South Dakota Investment Council raised its position in shares of Colgate-Palmolive by 3.2% in the 2nd quarter. South Dakota Investment Council now owns 26,546 shares of the company’s stock valued at $2,413,000 after purchasing an additional 825 shares during the last quarter. SS&H Financial Advisors Inc. raised its position in shares of Colgate-Palmolive by 7.2% in the 2nd quarter. SS&H Financial Advisors Inc. now owns 35,213 shares of the company’s stock valued at $3,201,000 after purchasing an additional 2,370 shares during the last quarter. Welch & Forbes LLC raised its position in shares of Colgate-Palmolive by 3.6% in the 2nd quarter. Welch & Forbes LLC now owns 52,730 shares of the company’s stock valued at $4,793,000 after purchasing an additional 1,827 shares during the last quarter. Accuvest Global Advisors purchased a new position in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $512,000. Finally, Sumitomo Life Insurance Co. raised its position in shares of Colgate-Palmolive by 75.7% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 24,243 shares of the company’s stock valued at $2,204,000 after purchasing an additional 10,444 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

CL opened at $74.94 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market capitalization of $60.56 billion, a PE ratio of 21.05, a P/E/G ratio of 4.44 and a beta of 0.34. The firm has a 50 day moving average of $80.26 and a two-hundred day moving average of $86.14. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CL shares. Evercore ISI decreased their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective for the company. Raymond James Financial reduced their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group reduced their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Nine equities research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

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.