Evelyn Partners Asset Management Ltd Sells 23,621 Shares of Colgate-Palmolive Company $CL

Evelyn Partners Asset Management Ltd cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 95.0% in the first quarter, Holdings Channel reports. The fund owned 1,246 shares of the company’s stock after selling 23,621 shares during the period. Evelyn Partners Asset Management Ltd’s holdings in Colgate-Palmolive were worth $106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Colgate-Palmolive by 35.3% in the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock valued at $37,110,000 after acquiring an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. grew its position in Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock worth $15,881,000 after acquiring an additional 13,804 shares during the last quarter. Caprock Group LLC increased its holdings in Colgate-Palmolive by 116.5% during the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock valued at $5,121,000 after purchasing an additional 34,879 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Colgate-Palmolive by 10.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,443 shares of the company’s stock valued at $17,498,000 after purchasing an additional 21,109 shares in the last quarter. Finally, SEB Asset Management AB bought a new position in Colgate-Palmolive in the 1st quarter valued at $91,149,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CL shares. Piper Sandler boosted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the company a “buy” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Bank of America decreased their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.82.

Colgate-Palmolive Stock Performance

CL stock opened at $92.00 on Tuesday. The company has a 50 day moving average price of $90.82 and a 200 day moving average price of $89.15. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week 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 $73.62 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.78 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. Analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

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.