Atlantic Union Bankshares Corp Acquires 8,352 Shares of Colgate-Palmolive Company $CL

Atlantic Union Bankshares Corp grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 67.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,755 shares of the company’s stock after buying an additional 8,352 shares during the period. Atlantic Union Bankshares Corp’s holdings in Colgate-Palmolive were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Cidel Asset Management Inc. boosted its position in shares of Colgate-Palmolive by 13.6% during the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after buying an additional 39,413 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Colgate-Palmolive by 18.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock valued at $2,752,000 after acquiring an additional 4,738 shares during the period. Secured Retirement Advisors LLC grew its position in Colgate-Palmolive by 564.3% in the 1st quarter. Secured Retirement Advisors LLC now owns 20,406 shares of the company’s stock valued at $1,912,000 after acquiring an additional 17,334 shares during the last quarter. Arista Wealth Management LLC purchased a new stake in Colgate-Palmolive in the second quarter worth $571,000. Finally, Mraz Amerine & Associates Inc. bought a new stake in shares of Colgate-Palmolive during the second quarter worth $300,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $78.76 on Friday. The company has a market capitalization of $63.65 billion, a PE ratio of 22.12, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a 50-day simple moving average of $79.73 and a two-hundred day simple moving average of $85.77. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data 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 firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. Research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays cut their price target on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday. Raymond James Financial decreased their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. The Goldman Sachs Group lowered their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Finally, Piper Sandler assumed coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price for the company. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.87.

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.