VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $83.84 Million Investment in Colgate-Palmolive Company $CL

Key Points

• The Virginia Retirement Systems made a new investment of $83.84 million in Colgate-Palmolive, acquiring approximately 922,300 shares during the second quarter.
• Colgate-Palmolive's stock has received multiple rating adjustments from analysts, with price targets ranging from $80.00 to $106.00 and the current consensus rating at "Moderate Buy."
• The company recently announced a quarterly dividend of $0.52 per share, reflecting an annualized dividend yield of 2.6%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 922,300 shares of the company's stock, valued at approximately $83,837,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.11% of Colgate-Palmolive as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Koshinski Asset Management Inc. raised its stake in Colgate-Palmolive by 8.4% during the second quarter. Koshinski Asset Management Inc. now owns 12,115 shares of the company's stock worth $1,101,000 after acquiring an additional 934 shares in the last quarter. Citizens Business Bank boosted its holdings in Colgate-Palmolive by 0.8% in the second quarter. Citizens Business Bank now owns 29,297 shares of the company's stock valued at $2,663,000 after acquiring an additional 232 shares during the last quarter. Stanley Laman Group Ltd. grew its position in shares of Colgate-Palmolive by 16.3% during the 2nd quarter. Stanley Laman Group Ltd. now owns 2,942 shares of the company's stock worth $267,000 after buying an additional 413 shares during the period. Chevy Chase Trust Holdings LLC raised its position in shares of Colgate-Palmolive by 0.6% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 435,588 shares of the company's stock valued at $39,595,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Arista Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 2nd quarter worth $571,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. UBS Group decreased their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, October 8th. Morgan Stanley reduced their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Citigroup dropped their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Finally, Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $92.21.

Colgate-Palmolive Price Performance

Shares of CL opened at $79.14 on Friday. The firm has a market cap of $63.96 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 4.64 and a beta of 0.34. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $100.54. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The business's 50 day moving average price is $81.96 and its two-hundred day moving average price is $87.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. On average, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

About Colgate-Palmolive

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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