Lazard Freres Gestion S.A.S. Raises Stock Holdings in Colgate-Palmolive Company $CL

Lazard Freres Gestion S.A.S. boosted its holdings in Colgate-Palmolive Company (NYSE:CL) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 749,453 shares of the company’s stock after purchasing an additional 76,005 shares during the quarter. Colgate-Palmolive comprises 1.1% of Lazard Freres Gestion S.A.S.’s investment portfolio, making the stock its 28th largest holding. Lazard Freres Gestion S.A.S. owned 0.09% of Colgate-Palmolive worth $59,911,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Golden State Equity Partners boosted its stake in shares of Colgate-Palmolive by 15.4% during the third quarter. Golden State Equity Partners now owns 3,263 shares of the company’s stock worth $261,000 after buying an additional 436 shares during the period. Mattern Capital Management LLC grew its stake in shares of Colgate-Palmolive by 1.5% in the 3rd quarter. Mattern Capital Management LLC now owns 98,184 shares of the company’s stock valued at $7,849,000 after purchasing an additional 1,483 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of Colgate-Palmolive in the third quarter valued at approximately $68,000. Salomon & Ludwin LLC raised its stake in shares of Colgate-Palmolive by 3.4% during the third quarter. Salomon & Ludwin LLC now owns 10,093 shares of the company’s stock worth $787,000 after purchasing an additional 330 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Colgate-Palmolive by 7.6% during the third quarter. Mather Group LLC. now owns 7,617 shares of the company’s stock worth $609,000 after purchasing an additional 536 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CL shares. UBS Group dropped their price objective on shares of 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 started coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target for the company. Barclays lowered their price objective on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. boosted 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, December 18th. Finally, Evercore ISI reduced their price target on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $88.81.

Colgate-Palmolive Trading Down 0.6%

Shares of CL stock opened at $79.02 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. The business has a fifty day simple moving average of $78.53 and a 200-day simple moving average of $82.41. The stock has a market cap of $63.70 billion, a P/E ratio of 22.13, a P/E/G ratio of 5.63 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) 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 company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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