New York Life Investment Management LLC Has $11.04 Million Stake in Colgate-Palmolive (NYSE:CL)

New York Life Investment Management LLC lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,436 shares of the company’s stock after selling 790 shares during the period. New York Life Investment Management LLC’s holdings in Colgate-Palmolive were worth $11,040,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CL. State Street Corp grew its position in Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after buying an additional 1,784,411 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Colgate-Palmolive by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock valued at $2,095,325,000 after acquiring an additional 552,949 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after purchasing an additional 557,492 shares in the last quarter. Barclays PLC increased its position in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the period. Finally, FMR LLC increased its position in shares of Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after purchasing an additional 2,674,807 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $90.23 on Friday. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The business has a 50 day moving average of $88.75 and a 200-day moving average of $95.58. The company has a market capitalization of $73.22 billion, a P/E ratio of 25.63, a P/E/G ratio of 4.20 and a beta of 0.44.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping 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 period in the previous year, the business earned $0.87 EPS. On average, equities research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.22%. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

Analyst Upgrades and Downgrades

CL has been the subject of several recent analyst reports. UBS Group cut their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Piper Sandler cut their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. One 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.com, Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $101.16.

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.