Voya Investment Management LLC Has $47.10 Million Stake in Colgate-Palmolive Company $CL

Key Points

• Voya Investment Management LLC increased its stake in Colgate-Palmolive by 3.1%, owning approximately 0.06% of the company valued at $47.10 million.
• Colgate-Palmolive has recently faced price target reductions from multiple analysts, with Wells Fargo lowering their target from $88 to $83, indicating a potential shift in market sentiment.
• The company announced a quarterly dividend of $0.52 per share, which reflects an annualized yield of 2.5%, to be paid on November 14th.

Voya Investment Management LLC grew its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 502,676 shares of the company's stock after buying an additional 15,219 shares during the quarter. Voya Investment Management LLC owned approximately 0.06% of Colgate-Palmolive worth $47,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CL. Brighton Jones LLC lifted its holdings in shares of Colgate-Palmolive by 4.4% during 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 last quarter. Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $36,000. Pathstone Holdings LLC raised its stake in shares of Colgate-Palmolive by 2.3% in the 4th quarter. Pathstone Holdings LLC now owns 91,226 shares of the company's stock valued at $8,292,000 after acquiring an additional 2,069 shares in the last quarter. Rafferty Asset Management LLC raised its stake in shares of Colgate-Palmolive by 12.4% in the 4th quarter. Rafferty Asset Management LLC now owns 70,918 shares of the company's stock valued at $6,447,000 after acquiring an additional 7,849 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Colgate-Palmolive by 10.7% in the 4th quarter. Royal Bank of Canada now owns 5,070,517 shares of the company's stock valued at $460,962,000 after acquiring an additional 488,404 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. Morgan Stanley dropped 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 price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, UBS Group dropped their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Stock Performance

CL opened at $83.35 on Friday. The stock has a market cap of $67.37 billion, a PE ratio of 23.41, a P/E/G ratio of 4.37 and a beta of 0.35. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 1 year low of $82.29 and a 1 year high of $106.26. The stock's 50 day simple moving average is $85.95 and its 200-day simple moving average is $89.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly 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 business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's dividend payout ratio is 58.43%.

Colgate-Palmolive Profile

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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