Aberdeen Group plc Boosts Stake in Colgate-Palmolive Company $CL

Key Points

• Aberdeen Group plc increased its stake in Colgate-Palmolive by 4.0%, owning 640,139 shares valued at $58,189,000 at the end of the recent quarter.
• Colgate-Palmolive reported quarterly earnings of $0.92 per share, exceeding analyst estimates of $0.89, with revenues of $5.11 billion.
• The company declared a quarterly dividend of $0.52 to be paid on November 14th, representing an annualized yield of 2.7%.

Aberdeen Group plc lifted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 640,139 shares of the company's stock after purchasing an additional 24,372 shares during the period. Aberdeen Group plc owned 0.08% of Colgate-Palmolive worth $58,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. PDS Planning Inc increased its stake in shares of Colgate-Palmolive by 74.4% in the 2nd quarter. PDS Planning Inc now owns 5,631 shares of the company's stock worth $512,000 after purchasing an additional 2,402 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Colgate-Palmolive by 10.6% in the 2nd quarter. Blue Trust Inc. now owns 10,073 shares of the company's stock worth $916,000 after purchasing an additional 964 shares in the last quarter. Monument Capital Management purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter worth $264,000. Commerzbank Aktiengesellschaft FI increased its stake in shares of Colgate-Palmolive by 7.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 27,837 shares of the company's stock worth $2,530,000 after purchasing an additional 2,015 shares in the last quarter. Finally, Callan Family Office LLC increased its stake in Colgate-Palmolive by 286.3% in the 2nd quarter. Callan Family Office LLC now owns 18,685 shares of the company's stock worth $1,698,000 after buying an additional 13,848 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.2%

Shares of Colgate-Palmolive stock opened at $77.99 on Friday. The firm has a market cap of $63.03 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.29 and a beta of 0.34. The business has a 50-day moving average price of $82.56 and a 200-day moving average price of $87.88. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a twelve month low of $77.09 and a twelve month high of $102.61.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CL shares. Citigroup cut their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. The Goldman Sachs Group cut their price target on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Piper Sandler started coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a "neutral" rating and a $84.00 price target for the company. Bank of America cut their price target on Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Colgate-Palmolive in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.21.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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