Colgate-Palmolive Company $CL Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Colgate-Palmolive by 27% in the first quarter, buying an additional 82,255 shares and bringing its total holding to 387,355 shares worth about $33.0 million.
• Colgate-Palmolive posted solid quarterly results, with earnings per share of $0.97 beating estimates and revenue of $5.32 billion topping expectations; revenue also rose 8.4% year over year.
• The company announced a quarterly dividend of $0.53 per share and received a generally positive Wall Street outlook, with analysts assigning a consensus rating of Moderate Buy and an average target price of $97.82.

Cetera Investment Advisers lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 27.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,355 shares of the company's stock after purchasing an additional 82,255 shares during the quarter. Cetera Investment Advisers' holdings in Colgate-Palmolive were worth $33,014,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

CL has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. The Goldman Sachs Group reiterated a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Citigroup boosted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Piper Sandler upped their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Finally, TD Cowen reaffirmed a "hold" rating and set a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.82.

Colgate-Palmolive Stock Up 0.7%

CL stock opened at $90.74 on Friday. 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 $72.61 billion, a PE ratio of 35.31, a P/E/G ratio of 4.78 and a beta of 0.33. The firm has a 50 day simple moving average of $90.77 and a 200 day simple moving average of $88.96. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Equities research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid 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 dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 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.

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