Renaissance Technologies LLC Has $193.80 Million Stake in Colgate-Palmolive Company $CL

Key Points

• Renaissance Technologies reduced its Colgate-Palmolive stake by 17.9% in the first quarter, selling 495,600 shares and ending with 2,273,833 shares worth about $193.8 million.
• Colgate-Palmolive recently beat quarterly earnings and revenue expectations, reporting $0.97 EPS on $5.32 billion in revenue, with sales up 8.4% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average target price of $97.82; the company also announced a $0.53 quarterly dividend payable August 14.

Renaissance Technologies LLC cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 17.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,273,833 shares of the company's stock after selling 495,600 shares during the quarter. Renaissance Technologies LLC owned about 0.28% of Colgate-Palmolive worth $193,799,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CL. Kemnay Advisory Services Inc. bought a new position in Colgate-Palmolive during the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC increased 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 purchasing an additional 150 shares during the last quarter. TD Capital Management LLC raised its position 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 purchasing an additional 124 shares during the period. Triumph Capital Management lifted its stake 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 buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $26,000. Institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on CL shares. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Piper Sandler boosted their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Morgan Stanley reaffirmed an "overweight" rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Barclays increased their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.82.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $90.74 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The company has a 50-day simple moving average of $90.77 and a two-hundred day simple moving average of $88.96. The stock has a market capitalization of $72.61 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 4.74 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive's payout ratio is 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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