Concord Wealth Partners Increases Stake in Colgate-Palmolive (NYSE:CL)

Concord Wealth Partners increased its stake in Colgate-Palmolive (NYSE:CL) by 53.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,814 shares of the company’s stock after acquiring an additional 6,196 shares during the period. Concord Wealth Partners’ holdings in Colgate-Palmolive were worth $1,619,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after acquiring an additional 2,674,807 shares during the period. Barclays PLC increased its position in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the period. State Street Corp boosted its stake in shares of Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Colgate-Palmolive by 32.5% during the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company’s stock valued at $462,121,000 after buying an additional 1,247,731 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Colgate-Palmolive by 864.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 777,854 shares of the company’s stock worth $80,749,000 after buying an additional 697,168 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CL shares. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. UBS Group dropped their price target on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their price objective on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $102.00.

Colgate-Palmolive Stock Down 4.7 %

Shares of NYSE CL opened at $86.64 on Friday. The company has a market cap of $70.78 billion, a P/E ratio of 24.82, a PEG ratio of 3.70 and a beta of 0.44. The firm has a 50-day simple moving average of $91.35 and a two-hundred day simple moving average of $97.17. Colgate-Palmolive has a 1 year low of $82.68 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 405.81% and a net margin of 14.27%. During the same quarter in the previous year, the company posted $0.87 earnings per share. Research analysts anticipate that Colgate-Palmolive will post 3.58 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Profile

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.