Congress Asset Management Co. Boosts Stock Position in Colgate-Palmolive (NYSE:CL)

Congress Asset Management Co. grew its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,719 shares of the company's stock after purchasing an additional 4,530 shares during the period. Congress Asset Management Co.'s holdings in Colgate-Palmolive were worth $13,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Creative Planning grew its position in Colgate-Palmolive by 2.0% during the 3rd quarter. Creative Planning now owns 218,018 shares of the company's stock worth $22,632,000 after purchasing an additional 4,372 shares during the last quarter. Swedbank AB grew its holdings in shares of Colgate-Palmolive by 1.4% during the third quarter. Swedbank AB now owns 2,950,059 shares of the company's stock valued at $306,246,000 after buying an additional 40,324 shares during the last quarter. Good Life Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at $436,000. Global Retirement Partners LLC raised its stake in Colgate-Palmolive by 16.5% in the 3rd quarter. Global Retirement Partners LLC now owns 7,466 shares of the company's stock worth $775,000 after acquiring an additional 1,056 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Colgate-Palmolive by 3.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 22,376 shares of the company's stock worth $2,323,000 after acquiring an additional 674 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE CL traded up $0.38 on Thursday, hitting $87.80. The company had a trading volume of 3,252,724 shares, compared to its average volume of 4,889,062. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The company's fifty day moving average price is $89.13 and its 200-day moving average price is $96.05. The company has a market capitalization of $71.25 billion, a PE ratio of 24.94, a PEG ratio of 4.12 and a beta of 0.44. Colgate-Palmolive has a 12-month low of $84.45 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the company earned $0.87 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.76 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. Colgate-Palmolive's payout ratio is currently 56.82%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CL shares. UBS Group reduced their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $103.00 to $97.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus decreased their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. TD Cowen cut their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler decreased 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $101.16.

Colgate-Palmolive Company 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.