Citizens Business Bank Buys 232 Shares of Colgate-Palmolive Company $CL

Citizens Business Bank raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 29,297 shares of the company’s stock after purchasing an additional 232 shares during the quarter. Citizens Business Bank’s holdings in Colgate-Palmolive were worth $2,663,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD raised its position in Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares in the last quarter. Nuveen LLC bought a new stake in Colgate-Palmolive during the first quarter worth about $217,593,000. Goldman Sachs Group Inc. grew its stake in Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after buying an additional 2,045,191 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake 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 buying an additional 1,727,105 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Colgate-Palmolive by 60.5% during the first quarter. Alliancebernstein L.P. now owns 2,336,783 shares of the company’s stock worth $218,957,000 after buying an additional 880,527 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.4%

Shares of NYSE:CL opened at $79.14 on Friday. Colgate-Palmolive Company has a 52 week low of $76.68 and a 52 week high of $100.54. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company has a market capitalization of $63.96 billion, a PE ratio of 22.23, a PEG ratio of 4.58 and a beta of 0.34. The company has a 50 day moving average price of $81.96 and a two-hundred day moving average price of $87.39.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts forecast 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. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is presently 58.43%.

Analyst Upgrades and Downgrades

CL has been the topic of several research analyst reports. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research note on Friday, October 10th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. The Goldman Sachs Group decreased their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Finally, Barclays reduced their target price on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. 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 stock. According to MarketBeat.com, Colgate-Palmolive 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.