PNC Financial Services Group Inc. Cuts Position in Colgate-Palmolive (NYSE:CL)

PNC Financial Services Group Inc. lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 975,812 shares of the company’s stock after selling 4,251 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.12% of Colgate-Palmolive worth $88,711,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. D Orazio & Associates Inc. grew 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 worth $297,000 after buying an additional 108 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in Colgate-Palmolive by 4.5% in the 4th quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock worth $247,000 after acquiring an additional 118 shares during the period. Lantz Financial LLC raised its holdings in Colgate-Palmolive by 0.6% in the 4th quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock valued at $1,831,000 after acquiring an additional 122 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in shares of Colgate-Palmolive by 4.2% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 3,102 shares of the company’s stock worth $322,000 after purchasing an additional 124 shares during the period. Finally, Pine Haven Investment Counsel Inc boosted its holdings in shares of Colgate-Palmolive by 1.0% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 13,006 shares of the company’s stock worth $1,182,000 after purchasing an additional 130 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. TD Cowen decreased their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Piper Sandler cut their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Barclays decreased their price objective on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.61.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $96.84 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The stock has a 50 day moving average of $88.84 and a 200-day moving average of $95.17. The stock has a market cap of $78.59 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued 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 net margin of 14.38% and a return on equity of 477.77%. During the same period last year, the firm posted $0.87 EPS. On average, analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were issued a $0.50 dividend. The ex-dividend date of this dividend 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 (DPR) is 56.82%.

Colgate-Palmolive Company 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.