Welch Group LLC Acquires 20,744 Shares of Colgate-Palmolive Company $CL

Welch Group LLC boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 685,785 shares of the company’s stock after purchasing an additional 20,744 shares during the quarter. Colgate-Palmolive comprises approximately 2.1% of Welch Group LLC’s investment portfolio, making the stock its 22nd biggest position. Welch Group LLC owned about 0.08% of Colgate-Palmolive worth $54,822,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CL. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after buying an additional 993,432 shares during the last quarter. Norges Bank bought a new position in Colgate-Palmolive in the 2nd quarter valued at about $960,390,000. Invesco Ltd. lifted its position in Colgate-Palmolive by 9.1% during the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after acquiring an additional 621,841 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 1,839,853 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after purchasing an additional 3,768,784 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

CL opened at $78.96 on Tuesday. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The firm has a market cap of $63.65 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 5.58 and a beta of 0.30. The business’s fifty day moving average is $78.36 and its 200-day moving average is $82.94.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data 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. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. Colgate-Palmolive’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. Sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CL. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target for the company. UBS Group dropped their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday, November 3rd. The Goldman Sachs Group reduced their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research note on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.81.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.