NBW Capital LLC has established a new position in Colgate-Palmolive Company (NYSE: CL), acquiring 2,989 shares valued at approximately $272,000 during the second quarter of 2023. This investment reflects a growing interest among institutional investors in the consumer goods sector, as evidenced by recent disclosures made to the Securities and Exchange Commission (SEC).
A variety of other institutional investors have also made moves in the Colgate-Palmolive market. For instance, Quantbot Technologies LP purchased a stake worth around $690,000 in the same quarter. M&T Bank Corp increased its holdings in the company by 5.4%, now owning a total of 284,265 shares valued at approximately $25.84 million after acquiring an additional 14,613 shares. Similarly, Van Hulzen Asset Management LLC expanded its position in Colgate-Palmolive by 28.7%, resulting in ownership of 2,867 shares worth $261,000.
One of the most significant changes came from OMERS ADMINISTRATION Corp, which boosted its holdings by an astonishing 2,890.5%. The firm now controls 1,417,542 shares, valued at $128.86 million, following the purchase of an additional 1,370,140 shares. Shelton Capital Management also increased its stake by 13.8%, now holding 90,282 shares valued at $8.21 million. Collectively, institutional investors and hedge funds own 80.41% of Colgate-Palmolive’s stock.
The company’s stock opened at $79.96 on Tuesday, continuing a trend of fluctuating prices. Its 50-day moving average stands at $78.58, while the 200-day moving average is at $84.37. Colgate-Palmolive has a market capitalization of $64.45 billion, with a price-to-earnings ratio of 22.46 and a P/E/G ratio of 4.44. The company’s shares have seen a fifty-two-week low of $74.54 and a high of $100.18.
Dividend Announcement and Financial Health
In addition to the stock activity, Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, which was distributed on November 14, 2023. Shareholders of record on October 17, 2023 received this payment, resulting in an annualized dividend of $2.08 and a yield of 2.6%. The ex-dividend date also fell on October 17. The company maintains a payout ratio of 58.26%, indicating a balanced approach to returning value to shareholders while retaining earnings for growth.
Analysts’ Perspectives
Several financial analysts have recently adjusted their outlook on Colgate-Palmolive’s stock. For example, JPMorgan Chase & Co. reduced its target price from $88.00 to $87.00 while maintaining an “overweight” rating. Similarly, The Goldman Sachs Group lowered its price objective from $106.00 to $91.00 and affirmed a “buy” rating. Citigroup also adjusted its target from $105.00 to $95.00, maintaining a “buy” recommendation.
Further adjustments came from Bank of America, which decreased its target price from $98.00 to $88.00, and Barclays, which revised its target from $82.00 to $80.00 while assigning an “equal weight” rating. Currently, nine analysts rate the stock as a “buy,” five as a “hold,” and one as a “sell.” According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” with an average target price of $89.87.
Colgate-Palmolive Company, along with its subsidiaries, operates in the global consumer products sector, manufacturing items across two main segments: Oral, Personal and Home Care, and Pet Nutrition. Its diverse product range includes toothpaste, soaps, shampoos, and household cleaners, reflecting its strong market presence both in the United States and internationally.
