Rakuten Investment Management Inc. Takes $2.34 Million Position in Colgate-Palmolive Company $CL

Rakuten Investment Management Inc. purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 29,271 shares of the company’s stock, valued at approximately $2,340,000.

Other hedge funds have also recently made changes to their positions in the company. Westside Investment Management Inc. raised its holdings in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in shares of Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares in the last quarter. MTM Investment Management LLC bought a new stake in Colgate-Palmolive during the 2nd quarter valued at approximately $39,000. Louisbourg Investments Inc. boosted its stake in Colgate-Palmolive by 94.7% in the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock worth $41,000 after purchasing an additional 250 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Colgate-Palmolive during the 2nd quarter valued at approximately $44,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.0%

CL opened at $86.67 on Friday. The stock has a 50-day moving average of $80.07 and a 200 day moving average of $81.58. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The firm has a market cap of $69.86 billion, a P/E ratio of 24.28, a P/E/G ratio of 5.82 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 333.39% and a net margin of 14.47%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.91 EPS. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is presently 58.26%.

Wall Street Analyst Weigh In

CL has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $88.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Evercore ISI decreased their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research report on Friday, October 10th. Piper Sandler set a $88.00 target price on Colgate-Palmolive and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Finally, Argus restated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.44.

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.