Royal Bank of Canada Grows Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Royal Bank of Canada increased its Colgate-Palmolive stake by 4.4% in the first quarter, bringing its holdings to 4.94 million shares worth approximately $421 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly revenue of $5.32 billion and earnings of $0.97 per share, exceeding analyst estimates, while revenue rose 8.4% year over year.
• The company declared a quarterly dividend of $0.53 per share, representing an annualized payout of $2.12 and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.82.

Royal Bank of Canada increased its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,940,013 shares of the company's stock after buying an additional 208,806 shares during the period. Royal Bank of Canada owned 0.62% of Colgate-Palmolive worth $421,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CL. Norges Bank bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at $861,670,000. Bank of New York Mellon Corp boosted its stake in Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Colgate-Palmolive during the 4th quarter valued at about $236,682,000. Finally, Deutsche Bank AG increased its stake in Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $92.87 on Wednesday. The stock has a market capitalization of $74.32 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 4.84 and a beta of 0.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The business's fifty day moving average price is $90.87 and its 200-day moving average price is $89.26.

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, beating 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 company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. Colgate-Palmolive's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm 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 $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 dividend payout ratio is 82.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CL. Morgan Stanley reiterated an "overweight" rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. UBS Group lifted their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the company a "buy" rating in a report on Tuesday, April 21st. Finally, Piper Sandler increased their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.82.

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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