Commerzbank Aktiengesellschaft FI Reduces Position in Colgate-Palmolive Company $CL

Commerzbank Aktiengesellschaft FI trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 29.9% during the first quarter, Holdings Channel.com reports. The firm owned 33,930 shares of the company’s stock after selling 14,490 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Colgate-Palmolive were worth $2,892,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its stake in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. TD Capital Management LLC lifted its holdings in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management boosted its position in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth about $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $90.48 on Wednesday. The stock’s 50-day moving average is $90.62 and its two-hundred day moving average is $88.77. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a market cap of $72.40 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 4.84 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. Analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CL. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Piper Sandler increased their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Finally, Barclays boosted their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.82.

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.