Colgate-Palmolive Company $CL Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has increased its stake in Colgate-Palmolive by 16.8%, now holding 200,858 shares worth approximately $18.26 million.
• Colgate-Palmolive reported a quarterly EPS of $0.92, surpassing the consensus estimate of $0.89, along with revenue of $5.11 billion.
• The company declared a quarterly dividend of $0.52, with an annual yield of 2.7%, set to be paid on November 14th.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,858 shares of the company's stock after buying an additional 28,875 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Colgate-Palmolive were worth $18,258,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC raised its stake in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after purchasing an additional 450 shares during the last quarter. Foster Group Inc. raised its stake in Colgate-Palmolive by 20.5% in the 1st quarter. Foster Group Inc. now owns 3,392 shares of the company's stock valued at $318,000 after purchasing an additional 577 shares during the last quarter. Curat Global LLC acquired a new position in Colgate-Palmolive in the 1st quarter valued at $131,000. Procyon Advisors LLC raised its stake in Colgate-Palmolive by 225.9% in the 1st quarter. Procyon Advisors LLC now owns 13,566 shares of the company's stock valued at $1,271,000 after purchasing an additional 9,403 shares during the last quarter. Finally, Horizon Wealth Management LLC raised its stake in Colgate-Palmolive by 3.1% in the 1st quarter. Horizon Wealth Management LLC now owns 4,633 shares of the company's stock valued at $434,000 after purchasing an additional 139 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

CL opened at $78.01 on Friday. The stock's 50-day moving average price is $83.29 and its 200 day moving average price is $88.32. Colgate-Palmolive Company has a 12-month low of $77.91 and a 12-month high of $102.61. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.06 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Colgate-Palmolive's revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given 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 yield of 2.7%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday. They issued a "neutral" rating and a $84.00 price objective for the company. UBS Group reduced their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Citigroup reduced their price objective 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. Barclays dropped their target price on Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $94.83.

Colgate-Palmolive 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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