Cullinan Associates Inc. Reduces Holdings in Colgate-Palmolive (NYSE:CL)

Cullinan Associates Inc. lowered its stake in Colgate-Palmolive (NYSE:CL) by 7.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,439 shares of the company’s stock after selling 4,300 shares during the quarter. Cullinan Associates Inc.’s holdings in Colgate-Palmolive were worth $4,585,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth $32,000. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive in the third quarter valued at $42,000. Capital Performance Advisors LLP purchased a new position in Colgate-Palmolive during the third quarter worth about $53,000. Synergy Asset Management LLC acquired a new stake in Colgate-Palmolive in the 4th quarter worth about $49,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.4 %

Shares of NYSE CL opened at $87.05 on Tuesday. Colgate-Palmolive has a 12-month low of $82.68 and a 12-month high of $109.30. The company has a market cap of $71.12 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 3.61 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. The stock’s 50 day simple moving average is $91.35 and its 200 day simple moving average is $97.15.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities research analysts expect that Colgate-Palmolive will post 3.74 EPS for the current year.

Colgate-Palmolive Announces Dividend

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 2.30%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

Analysts Set New Price Targets

CL has been the topic of a number of research analyst reports. Raymond James reiterated an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday. Morgan Stanley reduced their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group cut their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $101.16.

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.