Envestnet Asset Management Inc. Grows Stock Position in Colgate-Palmolive Company $CL

Envestnet Asset Management Inc. increased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 678,352 shares of the company’s stock after buying an additional 2,768 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Colgate-Palmolive were worth $61,662,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in Colgate-Palmolive by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 222,721 shares of the company’s stock valued at $20,245,000 after purchasing an additional 1,670 shares during the period. Resonant Capital Advisors LLC purchased a new stake in Colgate-Palmolive in the second quarter valued at approximately $233,000. Wealthfront Advisers LLC raised its position in Colgate-Palmolive by 28.6% in the second quarter. Wealthfront Advisers LLC now owns 158,457 shares of the company’s stock valued at $14,404,000 after purchasing an additional 35,219 shares during the period. Brighton Jones LLC raised its position in Colgate-Palmolive by 1.6% in the second quarter. Brighton Jones LLC now owns 10,972 shares of the company’s stock valued at $997,000 after purchasing an additional 171 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs raised its position in Colgate-Palmolive by 1.5% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 29,261 shares of the company’s stock valued at $2,660,000 after purchasing an additional 435 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.1%

Colgate-Palmolive stock opened at $76.54 on Friday. Colgate-Palmolive Company has a twelve month low of $75.38 and a twelve month high of $100.18. The stock’s fifty day simple moving average is $80.62 and its 200-day simple moving average is $86.51. 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 has a market capitalization of $61.86 billion, a P/E ratio of 21.50, a P/E/G ratio of 4.44 and a beta of 0.34.

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

Colgate-Palmolive Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on CL. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a research report on Friday, October 10th. Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. UBS Group cut their target price on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Raymond James Financial cut their price objective on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

About Colgate-Palmolive

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.