Raymond James Financial Inc. Invests $132.41 Million in Colgate-Palmolive (NYSE:CL)

Raymond James Financial Inc. acquired a new position in shares of Colgate-Palmolive (NYSE:CL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,456,436 shares of the company’s stock, valued at approximately $132,405,000. Raymond James Financial Inc. owned approximately 0.18% of Colgate-Palmolive at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CL. Kohmann Bosshard Financial Services LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive in the fourth quarter worth approximately $32,000. Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive in the fourth quarter worth approximately $36,000. Finally, Roxbury Financial LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Piper Sandler lowered their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. UBS Group lowered their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $101.61.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $96.84 on Friday. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The stock has a market cap of $78.59 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 4.20 and a beta of 0.40. The business’s fifty day moving average is $88.84 and its 200 day moving average is $95.17. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) 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 return on equity of 477.77% and a net margin of 14.38%. During the same period in the previous year, the company earned $0.87 EPS. Research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were paid a $0.50 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. Colgate-Palmolive’s dividend payout ratio is currently 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.