Ontario Teachers Pension Plan Board Boosts Position in Colgate-Palmolive Company $CL

Ontario Teachers Pension Plan Board raised its stake in Colgate-Palmolive Company (NYSE:CL) by 21.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 50,248 shares of the company’s stock after acquiring an additional 9,040 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Colgate-Palmolive were worth $4,568,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. grew its position in shares of Colgate-Palmolive by 3,198.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 141,982 shares of the company’s stock valued at $12,906,000 after buying an additional 137,677 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Colgate-Palmolive by 21.5% during the second quarter. Intech Investment Management LLC now owns 719,169 shares of the company’s stock worth $65,372,000 after purchasing an additional 127,149 shares during the last quarter. MJP Associates Inc. ADV acquired a new stake in shares of Colgate-Palmolive during the second quarter worth about $201,000. CWS Financial Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 20.2% in the 2nd quarter. CWS Financial Advisors LLC now owns 5,515 shares of the company’s stock valued at $501,000 after purchasing an additional 926 shares during the last quarter. Finally, Creative Planning grew its stake in Colgate-Palmolive by 6.2% during the 2nd quarter. Creative Planning now owns 268,919 shares of the company’s stock worth $24,445,000 after buying an additional 15,738 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.0%

CL stock opened at $78.01 on Friday. The stock has a market capitalization of $62.88 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. The company has a fifty day moving average of $79.18 and a 200-day moving average of $85.21. 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 one year low of $74.54 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

Analysts Set New Price Targets

CL has been the subject of a number of research reports. Barclays reduced their price objective on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Citigroup lowered their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Evercore ISI reduced their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.87.

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.