Voya Investment Management LLC Acquires 7,898 Shares of Colgate-Palmolive Company $CL

Voya Investment Management LLC lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 505,603 shares of the company’s stock after buying an additional 7,898 shares during the period. Voya Investment Management LLC’s holdings in Colgate-Palmolive were worth $40,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Westside Investment Management Inc. increased its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Colgate-Palmolive in the first quarter worth about $29,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 155 shares in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $33,000. Finally, MTM Investment Management LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CL. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Monday, November 3rd. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. 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 report on Monday, October 20th. UBS Group lowered their price target on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.81.

Colgate-Palmolive Stock Up 1.0%

Shares of CL opened at $78.50 on Friday. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. The company has a 50-day simple moving average of $78.32 and a 200-day simple moving average of $83.07. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The firm has a market capitalization of $63.28 billion, a P/E ratio of 21.99, a P/E/G ratio of 5.58 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last released its 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. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio 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.