Kovitz Investment Group Partners LLC Increases Stock Position in Colgate-Palmolive Company $CL

Kovitz Investment Group Partners LLC boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 447.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 181,063 shares of the company’s stock after acquiring an additional 147,970 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Colgate-Palmolive were worth $14,308,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Triumph Capital Management increased its stake in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Jessup Wealth Management Inc acquired a new position in Colgate-Palmolive in the 4th quarter worth about $26,000. Finally, Maseco LLP purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.9%

NYSE CL opened at $89.74 on Friday. The business has a fifty day moving average price of $87.32 and a 200 day moving average price of $86.58. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market cap of $71.81 billion, a P/E ratio of 34.92, a P/E/G ratio of 4.78 and a beta of 0.33. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s payout ratio is presently 82.49%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler cut their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. TD Cowen reissued a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

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.