Assetmark Inc. Acquires 12,160 Shares of Colgate-Palmolive (NYSE:CL)

Assetmark Inc. raised its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 295.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,280 shares of the company's stock after buying an additional 12,160 shares during the period. Assetmark Inc.'s holdings in Colgate-Palmolive were worth $1,480,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CL. Chicago Partners Investment Group LLC raised its position in Colgate-Palmolive by 16.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock valued at $591,000 after acquiring an additional 943 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $1,315,000. Carrera Capital Advisors increased its position 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. Fiduciary Alliance LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at about $4,066,000. Finally, Impact Partnership Wealth LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at about $803,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CL shares. TD Cowen lowered their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. StockNews.com upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Finally, Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $101.61.

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Colgate-Palmolive Price Performance

NYSE:CL traded down $3.45 during mid-day trading on Tuesday, hitting $94.05. The company's stock had a trading volume of 6,640,122 shares, compared to its average volume of 4,166,838. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a market capitalization of $76.32 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 4.20 and a beta of 0.40. The stock has a fifty day moving average of $88.97 and a 200-day moving average of $95.06. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $0.91 EPS 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 in the prior year, the firm posted $0.87 earnings per share. As a group, equities analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Tuesday, January 21st. Colgate-Palmolive's payout ratio 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.