Colgate-Palmolive (NYSE:CL) Position Trimmed by Hexagon Capital Partners LLC

Posted by on Mar 24th, 2023

Hexagon Capital Partners LLC decreased its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,022 shares of the company’s stock after selling 332 shares during the period. Hexagon Capital Partners LLC’s holdings in Colgate-Palmolive were worth $81,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Beacon Investment Advisory Services Inc. grew its position in shares of Colgate-Palmolive by 2.1% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 28,739 shares of the company’s stock worth $2,264,000 after acquiring an additional 587 shares during the last quarter. Merit Financial Group LLC grew its position in shares of Colgate-Palmolive by 13.8% during the fourth quarter. Merit Financial Group LLC now owns 7,989 shares of the company’s stock worth $629,000 after acquiring an additional 966 shares during the last quarter. Gofen & Glossberg LLC IL grew its position in shares of Colgate-Palmolive by 0.8% during the fourth quarter. Gofen & Glossberg LLC IL now owns 120,286 shares of the company’s stock worth $9,477,000 after acquiring an additional 952 shares during the last quarter. Range Financial Group LLC grew its position in shares of Colgate-Palmolive by 3.8% during the fourth quarter. Range Financial Group LLC now owns 11,299 shares of the company’s stock worth $890,000 after acquiring an additional 410 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its position in shares of Colgate-Palmolive by 7.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 6,002 shares of the company’s stock worth $473,000 after acquiring an additional 437 shares during the last quarter. Institutional investors own 77.63% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $71.83 on Friday. Colgate-Palmolive has a twelve month low of $67.84 and a twelve month high of $83.81. The company has a current ratio of 1.28, a quick ratio of 0.76 and a debt-to-equity ratio of 10.84. The company has a market capitalization of $59.65 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 3.80 and a beta of 0.48. The firm has a 50-day moving average of $73.75 and a two-hundred day moving average of $74.89.

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

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 21st will be paid 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 dividend on an annualized basis and a yield of 2.67%. Colgate-Palmolive’s dividend payout ratio is currently 88.26%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CL shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Colgate-Palmolive from $84.00 to $80.00 in a research report on Monday. Barclays decreased their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 31st. Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, January 30th. Morgan Stanley upgraded shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and set a $82.00 target price for the company in a research report on Monday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, January 13th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $81.73.

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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