Raymond James Financial Inc. Acquires New Shares in Colgate-Palmolive (NYSE:CL)

Raymond James Financial Inc. acquired a new stake in shares of Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,456,436 shares of the company’s stock, valued at approximately $132,405,000.

Other institutional investors also recently modified their holdings of the company. D Orazio & Associates Inc. grew its stake in Colgate-Palmolive by 3.9% during the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock worth $297,000 after buying an additional 108 shares during the last quarter. Commonwealth Financial Services LLC grew its stake in Colgate-Palmolive by 4.5% during the 4th quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock worth $247,000 after buying an additional 118 shares during the last quarter. Lantz Financial LLC grew its stake in Colgate-Palmolive by 0.6% during the 4th quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock worth $1,831,000 after buying an additional 122 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its stake in 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 buying an additional 124 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc grew its stake in Colgate-Palmolive by 1.0% during the 4th quarter. Pine Haven Investment Counsel Inc now owns 13,006 shares of the company’s stock worth $1,182,000 after buying an additional 130 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CL shares. TD Cowen dropped their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley dropped their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays dropped their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company dropped their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.61.

Colgate-Palmolive Price Performance

CL stock opened at $96.84 on Friday. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The stock’s 50 day moving average price is $88.84 and its 200 day moving average price is $95.17. The firm has a market cap of $78.59 billion, a P/E ratio of 27.51, a PEG ratio of 4.20 and a beta of 0.40.

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

Colgate-Palmolive Dividend Announcement

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