Colgate-Palmolive (NYSE:CL) Shares Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 4.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 181,840 shares of the company’s stock after purchasing an additional 8,057 shares during the period. Banque Pictet & Cie SA’s holdings in Colgate-Palmolive were worth $16,531,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Hager Investment Management Services LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $36,000. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the third quarter worth about $42,000. Capital Performance Advisors LLP purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $53,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $49,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note 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 note on Monday, January 6th. Morgan Stanley cut their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Stifel Nicolaus reduced their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” 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 issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.16.

Colgate-Palmolive Price Performance

NYSE CL opened at $87.87 on Friday. The company has a 50-day moving average price of $89.83 and a two-hundred day moving average price of $96.54. Colgate-Palmolive has a 52 week low of $82.83 and a 52 week high of $109.30. The stock has a market cap of $71.79 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.12 and a beta of 0.44. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (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 last year, the business posted $0.87 earnings per share. Analysts forecast that Colgate-Palmolive will post 3.73 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

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.