Kentucky Retirement Systems Purchases 3,102 Shares of Colgate-Palmolive (NYSE:CL)

Posted by on Mar 15th, 2023

Kentucky Retirement Systems increased its stake in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,293 shares of the company’s stock after buying an additional 3,102 shares during the quarter. Kentucky Retirement Systems’ holdings in Colgate-Palmolive were worth $4,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CL. Hallmark Capital Management Inc. lifted its position in shares of Colgate-Palmolive by 158.2% during the 3rd quarter. Hallmark Capital Management Inc. now owns 408 shares of the company’s stock worth $29,000 after buying an additional 250 shares during the period. EdgeRock Capital LLC acquired a new stake in Colgate-Palmolive during the 3rd quarter valued at $35,000. Norway Savings Bank increased its holdings in Colgate-Palmolive by 57.8% during the 3rd quarter. Norway Savings Bank now owns 546 shares of the company’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Colgate-Palmolive during the 3rd quarter valued at $42,000. Finally, Zions Bancorporation N.A. increased its holdings in Colgate-Palmolive by 30.1% during the 3rd quarter. Zions Bancorporation N.A. now owns 666 shares of the company’s stock valued at $47,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 77.63% of the company’s stock.

Colgate-Palmolive Stock Up 1.0 %

NYSE:CL opened at $72.24 on Wednesday. Colgate-Palmolive has a 12-month low of $67.84 and a 12-month high of $83.81. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 10.84. The firm has a market capitalization of $59.99 billion, a P/E ratio of 33.92, a P/E/G ratio of 3.71 and a beta of 0.48. The stock’s fifty day simple moving average is $74.58 and its 200-day simple moving average is $75.15.

Colgate-Palmolive (NYSE:CL – Get Rating) last posted its quarterly earnings results on Friday, January 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 317.08% and a net margin of 9.93%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period last year, the company earned $0.79 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive will post 3.1 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 21st will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a yield of 2.66%. Colgate-Palmolive’s payout ratio is currently 88.26%.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent analyst reports. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Colgate-Palmolive from $87.00 to $84.00 in a report on Monday, January 30th. Barclays dropped their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “equal weight” rating for the company in a report on Tuesday, January 31st. Wolfe Research assumed coverage on Colgate-Palmolive in a research note on Monday, November 21st. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company lowered their target price on Colgate-Palmolive from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.09.

Colgate-Palmolive Profile

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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through the Oral, Personal and Home Care, and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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