Cerity Partners LLC Lowers Stock Position in Colgate-Palmolive Company $CL

Cerity Partners LLC cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 3.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 629,833 shares of the company’s stock after selling 21,569 shares during the period. Cerity Partners LLC owned 0.08% of Colgate-Palmolive worth $50,349,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cidel Asset Management Inc. lifted 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 last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Colgate-Palmolive by 18.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after acquiring an additional 4,738 shares in the last quarter. Vanguard Group Inc. lifted its position in Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after acquiring an additional 993,432 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Colgate-Palmolive by 3.9% in the third quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after acquiring an additional 16,017 shares in the last quarter. Finally, Welch Group LLC grew its holdings in Colgate-Palmolive by 1.5% in the second quarter. Welch Group LLC now owns 665,041 shares of the company’s stock worth $60,452,000 after purchasing an additional 9,689 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several analyst reports. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Piper Sandler set a $88.00 price target on Colgate-Palmolive and gave the stock an “overweight” rating in a report on Tuesday. Evercore ISI cut their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Jefferies Financial Group set a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, December 16th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.33.

Colgate-Palmolive Trading Down 0.2%

Shares of NYSE:CL opened at $77.06 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The stock has a market cap of $62.12 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 5.23 and a beta of 0.30. The business has a 50-day moving average price of $78.54 and a 200-day moving average price of $82.05.

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

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

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.