Security Financial Services INC. Purchases 782 Shares of Colgate-Palmolive Company $CL

Security Financial Services INC. raised its position in Colgate-Palmolive Company (NYSE:CL) by 12.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,214 shares of the company’s stock after buying an additional 782 shares during the quarter. Security Financial Services INC.’s holdings in Colgate-Palmolive were worth $656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in 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 purchasing an additional 5,269,140 shares during the last quarter. Nuveen LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $217,593,000. Goldman Sachs Group Inc. grew its holdings in shares of Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Acadian Asset Management LLC raised its holdings in 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 in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after purchasing an additional 1,727,105 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CL. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Monday, November 3rd. Piper Sandler started 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. Bank of America cut their price objective 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 reduced 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Nine 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Stock Down 1.0%

Shares of 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. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The firm’s 50 day moving average is $79.18 and its 200-day moving average is $85.26. The stock has a market capitalization of $62.88 billion, a PE ratio of 21.91, a P/E/G ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly 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. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.26%.

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.