Fiduciary Alliance LLC Cuts Stock Holdings in Colgate-Palmolive Company $CL

Fiduciary Alliance LLC reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 80.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,954 shares of the company’s stock after selling 36,005 shares during the period. Fiduciary Alliance LLC’s holdings in Colgate-Palmolive were worth $716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CL. Westside Investment Management Inc. raised its position in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 155 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Colgate-Palmolive in the first quarter worth approximately $33,000. Finally, MTM Investment Management LLC acquired a new position in Colgate-Palmolive during the 2nd quarter worth approximately $39,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CL. Raymond James Financial decreased their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. UBS Group cut their price target on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $87.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Ten 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.81.

Colgate-Palmolive Stock Performance

Shares of CL opened at $78.50 on Friday. The company’s 50 day simple moving average is $78.32 and its 200-day simple moving average is $83.12. The firm has a market cap of $63.28 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 5.54 and a beta of 0.30. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the business earned $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

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.