PineStone Asset Management Inc. Acquires 79,817 Shares of Colgate-Palmolive (NYSE:CL)

PineStone Asset Management Inc. raised its stake in shares of Colgate-Palmolive (NYSE:CL) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,078,521 shares of the company’s stock after purchasing an additional 79,817 shares during the quarter. Colgate-Palmolive makes up about 0.9% of PineStone Asset Management Inc.’s holdings, making the stock its 28th biggest holding. PineStone Asset Management Inc.’s holdings in Colgate-Palmolive were worth $98,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $32,000. Hager Investment Management Services LLC bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $36,000. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $42,000. Synergy Asset Management LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $49,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $53,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the subject of a number of research reports. Piper Sandler decreased their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. TD Cowen cut their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Raymond James reiterated an “outperform” rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, UBS Group reduced their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.16.

Colgate-Palmolive Price Performance

NYSE CL opened at $86.10 on Friday. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26. Colgate-Palmolive has a 1-year low of $83.20 and a 1-year high of $109.30. The stock has a market capitalization of $70.34 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 4.12 and a beta of 0.44. The business’s fifty day moving average price is $89.69 and its 200-day moving average price is $96.48.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the business earned $0.87 EPS. On average, equities analysts predict that Colgate-Palmolive will post 3.73 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.32%. Colgate-Palmolive’s dividend payout ratio is currently 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.