HighTower Advisors LLC Sells 33,957 Shares of Colgate-Palmolive Company $CL

HighTower Advisors LLC reduced its position in Colgate-Palmolive Company (NYSE:CL) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816,732 shares of the company’s stock after selling 33,957 shares during the quarter. HighTower Advisors LLC’s holdings in Colgate-Palmolive were worth $64,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Maseco LLP bought a new position in shares of Colgate-Palmolive in the fourth quarter worth approximately $27,000. Copia Wealth Management bought a new position in shares of Colgate-Palmolive in the third quarter worth approximately $29,000. Cloud Capital Management LLC bought a new position in shares of Colgate-Palmolive in the third quarter worth approximately $30,000. Global Wealth Strategies & Associates boosted its position in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the period. Finally, Camelot Portfolios LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $32,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CL has been the subject of several research analyst reports. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Jefferies Financial Group increased their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Piper Sandler cut their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Wells Fargo & Company cut their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Finally, Citigroup increased their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $90.44 on Thursday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market cap of $72.56 billion, a P/E ratio of 35.19, a P/E/G ratio of 4.67 and a beta of 0.31. The firm’s fifty day moving average is $86.12 and its two-hundred day moving average is $85.02. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is currently 82.49%.

Colgate-Palmolive Company Profile

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.