World Investment Advisors Cuts Holdings in Colgate-Palmolive Company $CL

World Investment Advisors trimmed its stake in Colgate-Palmolive Company (NYSE:CL) by 28.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,279 shares of the company’s stock after selling 7,425 shares during the period. World Investment Advisors’ holdings in Colgate-Palmolive were worth $1,558,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Kennon Green & Company LLC grew its position in Colgate-Palmolive by 2.0% during the 1st quarter. Kennon Green & Company LLC now owns 12,056 shares of the company’s stock worth $1,028,000 after purchasing an additional 239 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in shares of Colgate-Palmolive by 14.0% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 12,837 shares of the company’s stock worth $1,094,000 after buying an additional 1,576 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Colgate-Palmolive by 0.3% during the first quarter. New York State Teachers Retirement System now owns 659,692 shares of the company’s stock worth $56,226,000 after buying an additional 2,089 shares during the period. Sierra Summit Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at $208,000. Finally, Private Advisor Group LLC grew its holdings in shares of Colgate-Palmolive by 1.6% during the first quarter. Private Advisor Group LLC now owns 67,564 shares of the company’s stock valued at $5,758,000 after buying an additional 1,057 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CL. Piper Sandler lowered their price target 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. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price target on the stock. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Price Performance

NYSE:CL opened at $95.05 on Wednesday. The stock has a 50 day moving average of $89.47 and a two-hundred day moving average of $87.88. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The firm has a market cap of $76.06 billion, a P/E ratio of 36.98, a price-to-earnings-growth ratio of 4.92 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping 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 net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. On average, analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced 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. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 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.