Platform Technology Partners Increases Position in Colgate-Palmolive (NYSE:CL)

Platform Technology Partners boosted its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,851 shares of the company’s stock after purchasing an additional 432 shares during the period. Platform Technology Partners’ holdings in Colgate-Palmolive were worth $1,441,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $32,000. Hager Investment Management Services LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at $36,000. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter valued at $42,000. Synergy Asset Management LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the third quarter worth $53,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CL shares. Piper Sandler decreased their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. TD Cowen cut their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Morgan Stanley cut their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.16.

Colgate-Palmolive Trading Up 1.3 %

NYSE:CL opened at $86.81 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 1 year low of $82.68 and a 1 year high of $109.30. The stock has a market cap of $70.93 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.61 and a beta of 0.44. The stock has a 50-day simple moving average of $90.56 and a 200-day simple moving average of $96.84.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data 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 net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, analysts anticipate that Colgate-Palmolive will post 3.74 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is currently 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.