ABC Arbitrage SA Acquires New Shares in Colgate-Palmolive (NYSE:CL)

ABC Arbitrage SA acquired a new stake in Colgate-Palmolive (NYSE:CL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,119 shares of the company’s stock, valued at approximately $1,102,000.

A number of other large investors have also added to or reduced their stakes in the company. D Orazio & Associates Inc. increased its holdings in shares of Colgate-Palmolive by 3.9% during the third quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after acquiring an additional 108 shares in the last quarter. Fiducient Advisors LLC increased its holdings in shares of Colgate-Palmolive by 5.2% during the third quarter. Fiducient Advisors LLC now owns 2,231 shares of the company’s stock valued at $232,000 after acquiring an additional 110 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Colgate-Palmolive by 0.6% during the third quarter. Sequoia Financial Advisors LLC now owns 20,392 shares of the company’s stock valued at $2,117,000 after acquiring an additional 113 shares in the last quarter. Waldron Private Wealth LLC increased its holdings in shares of Colgate-Palmolive by 2.1% during the third quarter. Waldron Private Wealth LLC now owns 5,632 shares of the company’s stock valued at $585,000 after acquiring an additional 118 shares in the last quarter. Finally, Commonwealth Financial Services LLC increased its holdings in shares of Colgate-Palmolive by 4.5% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after acquiring an additional 118 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the topic of several recent analyst reports. 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 report on Wednesday, January 8th. Piper Sandler dropped their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Raymond James reiterated an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.16.

Colgate-Palmolive Trading Down 1.9 %

Shares of NYSE:CL opened at $86.10 on Friday. Colgate-Palmolive has a 1 year low of $83.20 and a 1 year high of $109.30. The firm has a market capitalization of $70.34 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 4.12 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26. The business’s 50 day moving average price is $89.53 and its 200-day moving average price is $96.38.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $0.87 EPS. On average, equities research analysts forecast that Colgate-Palmolive will post 3.73 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

Colgate-Palmolive 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.