Cornerstone Wealth Group LLC Sells 38,634 Shares of Colgate-Palmolive Company $CL

Cornerstone Wealth Group LLC lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 84.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,159 shares of the company’s stock after selling 38,634 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Colgate-Palmolive were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Colgate-Palmolive in the 2nd quarter worth $960,390,000. Schroder Investment Management Group increased its position in shares of Colgate-Palmolive by 242.3% during the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after buying an additional 3,768,784 shares during the period. Pacer Advisors Inc. raised its stake in Colgate-Palmolive by 3,052.2% in the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after buying an additional 2,611,485 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Colgate-Palmolive by 42.9% in the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock worth $556,663,000 after buying an additional 1,839,853 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its position in Colgate-Palmolive by 2,890.5% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,417,542 shares of the company’s stock valued at $128,855,000 after acquiring an additional 1,370,140 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $84.72 on Thursday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The firm’s 50-day moving average is $79.75 and its 200 day moving average is $81.60. The stock has a market cap of $68.29 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 5.79 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. Colgate-Palmolive’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Raymond James Financial lowered their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Barclays set a $83.00 price objective on Colgate-Palmolive in a research report on Friday, January 16th. Piper Sandler set a $88.00 target price on shares of Colgate-Palmolive and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. The Goldman Sachs Group lowered their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Finally, Bank of America dropped their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.44.

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.