Wealthfront Advisers LLC Grows Holdings in Colgate-Palmolive Company $CL

Wealthfront Advisers LLC lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 9.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 263,378 shares of the company’s stock after purchasing an additional 22,156 shares during the quarter. Wealthfront Advisers LLC’s holdings in Colgate-Palmolive were worth $22,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the period. Woodline Partners LP boosted its holdings in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after acquiring an additional 20,062 shares during the period. Schnieders Capital Management LLC. grew its position in Colgate-Palmolive by 2.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after acquiring an additional 245 shares in the last quarter. Nebula Research & Development LLC grew its position in Colgate-Palmolive by 165.5% in the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock valued at $939,000 after acquiring an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Colgate-Palmolive by 21.7% during the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after purchasing an additional 116,968 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CL shares. Piper Sandler lifted their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Barclays raised their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. TD Cowen restated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Weiss Ratings raised Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.41.

Colgate-Palmolive Stock Up 2.8%

CL stock opened at $94.02 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company’s 50 day moving average is $90.35 and its two-hundred day moving average is $88.51. The stock has a market cap of $75.24 billion, a P/E ratio of 36.58, a PEG ratio of 4.82 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Research analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is 82.49%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.