SlateStone Wealth LLC Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

SlateStone Wealth LLC raised its position in shares of Colgate-Palmolive (NYSE:CL) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 10,873 shares of the company’s stock after purchasing an additional 375 shares during the period. SlateStone Wealth LLC’s holdings in Colgate-Palmolive were worth $988,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $348,718,000. FMR LLC raised its holdings in Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares during the period. AMF Tjanstepension AB raised its holdings in Colgate-Palmolive by 1,088.8% during the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock valued at $233,584,000 after buying an additional 2,353,268 shares during the period. Barclays PLC raised its holdings in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the period. Finally, State Street Corp raised its holdings in Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after buying an additional 1,784,411 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. TD Cowen cut their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler cut their price objective 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. Finally, UBS Group cut their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $101.72.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $89.80 on Monday. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The stock’s 50-day moving average is $89.02 and its 200 day moving average is $94.67. The company has a market cap of $72.87 billion, a P/E ratio of 25.51, a PEG ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share 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 in the prior year, the company earned $0.87 EPS. Research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

About Colgate-Palmolive

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.