Police & Firemen s Retirement System of New Jersey Acquires 4,109 Shares of Colgate-Palmolive Company $CL

Police & Firemen s Retirement System of New Jersey increased its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,082 shares of the company’s stock after buying an additional 4,109 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Colgate-Palmolive were worth $11,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares in the last quarter. Nuveen LLC bought a new position in shares of Colgate-Palmolive in the first quarter worth $217,593,000. Goldman Sachs Group Inc. raised its stake in Colgate-Palmolive by 34.5% in the first 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 in the last quarter. Acadian Asset Management LLC lifted its position in Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock worth $556,663,000 after purchasing an additional 1,839,853 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in Colgate-Palmolive by 45.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after purchasing an additional 1,727,105 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CL shares. Raymond James Financial dropped their target price 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. Evercore ISI lowered 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, November 3rd. Morgan Stanley cut their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Stock Performance

NYSE CL opened at $78.71 on Friday. The firm’s fifty day moving average price is $79.32 and its two-hundred day moving average price is $85.35. The stock has a market cap of $63.45 billion, a PE ratio of 22.11, a PEG ratio of 4.44 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared 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 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.26%.

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.