Bleakley Financial Group LLC Has $2.05 Million Position in Colgate-Palmolive Company $CL

Bleakley Financial Group LLC grew its stake in Colgate-Palmolive Company (NYSE:CL) by 5.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,599 shares of the company’s stock after buying an additional 1,145 shares during the quarter. Bleakley Financial Group LLC’s holdings in Colgate-Palmolive were worth $2,054,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD increased its position in shares of Colgate-Palmolive by 18.3% during 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 acquiring an additional 5,269,140 shares in the last quarter. Nuveen LLC bought a new stake in shares of Colgate-Palmolive during the first quarter worth $217,593,000. Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 2,045,191 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of 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 acquiring an additional 1,727,105 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Colgate-Palmolive during the second quarter worth $83,837,000. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several research reports. The Goldman Sachs Group lowered their price objective 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. Bank of America cut their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Raymond James Financial cut their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective on the stock. Finally, Barclays cut their price objective 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 investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Colgate-Palmolive Stock Performance

NYSE CL opened at $78.01 on Friday. 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 firm’s fifty day moving average price is $81.33 and its two-hundred day moving average price is $86.94. Colgate-Palmolive Company has a 1 year low of $76.68 and a 1 year high of $100.18. The firm has a market capitalization of $63.05 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 4.60 and a beta of 0.34.

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is presently 58.43%.

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.