Colgate-Palmolive Company $CL Shares Acquired by Principal Financial Group Inc.

Key Points

• Principal Financial Group Inc. increased its stake in Colgate-Palmolive by 3.4% in the first quarter, buying 32,721 more shares and bringing its total holdings to 1,009,014 shares worth about $86 million.
• Several other institutional investors also boosted positions in CL, and hedge funds and other institutions now own 80.41% of the company’s stock.
• Colgate-Palmolive beat quarterly expectations with $0.97 EPS on $5.32 billion in revenue, and it also announced a quarterly dividend of $0.53 per share payable August 14, yielding about 2.3% annually.

Principal Financial Group Inc. increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,009,014 shares of the company's stock after purchasing an additional 32,721 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Colgate-Palmolive worth $85,998,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of 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 buying an additional 450 shares during the period. Woodline Partners LP grew its holdings in Colgate-Palmolive by 76.3% during the first quarter. Woodline Partners LP now owns 46,361 shares of the company's stock worth $4,344,000 after acquiring an additional 20,062 shares during the period. Schnieders Capital Management LLC. raised its position in Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company's stock worth $1,136,000 after acquiring an additional 245 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in Colgate-Palmolive by 165.5% in the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company's stock valued at $939,000 after acquiring an additional 6,437 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Colgate-Palmolive by 21.7% during the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company's stock worth $59,732,000 after purchasing an additional 116,968 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CL shares. Bank of America lowered their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Piper Sandler upped their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Barclays increased their target price on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. TD Cowen reiterated a "hold" rating and set a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and an average target price of $97.41.

Colgate-Palmolive Stock Performance

NYSE CL opened at $94.02 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The business has a fifty day moving average of $90.35 and a 200-day moving average of $88.51. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 4.82 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter last year, the business posted $0.91 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Colgate-Palmolive 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.

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