New York State Teachers Retirement System Acquires 10,112 Shares of Colgate-Palmolive (NYSE:CL)

Posted by on Apr 10th, 2023

New York State Teachers Retirement System increased its position in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 948,345 shares of the company’s stock after acquiring an additional 10,112 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Colgate-Palmolive worth $74,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accurate Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $27,000. Hallmark Capital Management Inc. raised its holdings in shares of Colgate-Palmolive by 158.2% in the third quarter. Hallmark Capital Management Inc. now owns 408 shares of the company’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. RFP Financial Group LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $33,000. EdgeRock Capital LLC bought a new position in Colgate-Palmolive in the third quarter valued at $35,000. Finally, Norway Savings Bank increased its stake in Colgate-Palmolive by 57.8% in the 3rd quarter. Norway Savings Bank now owns 546 shares of the company’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. 77.63% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

CL opened at $75.68 on Monday. The firm has a market cap of $62.84 billion, a P/E ratio of 35.53, a price-to-earnings-growth ratio of 3.93 and a beta of 0.49. The company has a debt-to-equity ratio of 10.84, a quick ratio of 0.76 and a current ratio of 1.28. Colgate-Palmolive has a 52-week low of $67.84 and a 52-week high of $83.81. The business’s fifty day moving average is $73.52 and its 200-day moving average is $74.73.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 21st will be paid a $0.48 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 2.54%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 88.26%.

Analyst Ratings Changes

CL has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, January 13th. UBS Group upped their target price on shares of Colgate-Palmolive from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, March 29th. Barclays reduced 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. Citigroup initiated coverage on Colgate-Palmolive in a research report on Thursday, February 16th. They issued a “buy” rating and a $84.00 price objective for the company. Finally, TheStreet downgraded Colgate-Palmolive from a “b” rating to a “c+” rating in a research note on Friday, January 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $82.27.

Colgate-Palmolive Company 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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