North Dakota State Investment Board Takes Position in Colgate-Palmolive Company $CL

North Dakota State Investment Board purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 32,190 shares of the company’s stock, valued at approximately $2,544,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maseco LLP acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $27,000. Copia Wealth Management acquired a new position in shares of Colgate-Palmolive during the 3rd quarter valued at about $29,000. Cloud Capital Management LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter valued at about $30,000. Global Wealth Strategies & Associates boosted its position in shares of Colgate-Palmolive by 300.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Colgate-Palmolive by 182.6% during the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 2.0%

NYSE CL opened at $89.89 on Tuesday. The firm’s 50-day moving average is $86.24 and its two-hundred day moving average is $84.82. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The stock has a market capitalization of $72.12 billion, a P/E ratio of 34.98, a PEG ratio of 4.58 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s payout ratio is currently 82.49%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CL shares. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. UBS Group upped their target price on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Piper Sandler decreased their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.88.

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.