Allspring Global Investments Holdings LLC Has $16.49 Million Stock Holdings in Colgate-Palmolive Company $CL

Allspring Global Investments Holdings LLC cut its holdings in Colgate-Palmolive Company (NYSE:CL) by 73.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 179,164 shares of the company’s stock after selling 484,474 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Colgate-Palmolive were worth $16,490,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC boosted its position in Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock worth $847,000 after acquiring an additional 110 shares during the last quarter. Grimes & Company Inc. boosted its position in Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after acquiring an additional 118 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its position in Colgate-Palmolive by 2.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after acquiring an additional 129 shares during the last quarter. MONECO Advisors LLC boosted its position in Colgate-Palmolive by 2.2% during the 1st quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock worth $567,000 after acquiring an additional 133 shares during the last quarter. Finally, Ledyard National Bank boosted its position in Colgate-Palmolive by 4.5% during the 1st quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock worth $290,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.4%

CL opened at $79.14 on Friday. Colgate-Palmolive Company has a 1-year low of $76.68 and a 1-year high of $100.54. The stock’s fifty day simple moving average is $81.96 and its 200 day simple moving average is $87.39. 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 stock has a market cap of $63.96 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 4.58 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CL. Bank of America reduced their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. The Goldman Sachs Group dropped their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Finally, Morgan Stanley dropped their price objective on 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 research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.21.

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.