Adero Partners LLC Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

Adero Partners LLC cut its holdings in Colgate-Palmolive (NYSE:CL) by 4.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,007 shares of the company’s stock after selling 134 shares during the quarter. Adero Partners LLC’s holdings in Colgate-Palmolive were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Chicago Partners Investment Group LLC increased its position in shares of Colgate-Palmolive by 16.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after purchasing an additional 943 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $1,315,000. Gordian Advisors LLC acquired a new position in Colgate-Palmolive during the third quarter worth $602,000. Carrera Capital Advisors boosted its stake in Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after buying an additional 7,353 shares during the last quarter. Finally, Fiduciary Alliance LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $4,066,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent research reports. Barclays lowered their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Raymond James reiterated an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a report on Monday. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Piper Sandler lowered their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Stifel Nicolaus lowered their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.16.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $85.60 on Friday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.26 and a current ratio of 0.41. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30. The firm has a market capitalization of $69.94 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 3.61 and a beta of 0.44. The stock’s 50-day simple moving average is $90.78 and its 200-day simple moving average is $96.92.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the firm posted $0.87 EPS. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.74 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

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.