Institutional Investors Adjust Stakes in Colgate-Palmolive Shares

Kennon Green & Company LLC has decreased its holdings in the Colgate-Palmolive Company by 3.1% during the second quarter of 2023, according to a report from Holdings Channel. The investment firm now owns 11,832 shares of the consumer goods giant after selling 374 shares during this period. Colgate-Palmolive represents a modest 0.9% of Kennon Green’s total portfolio, ranking as its 29th largest investment. As of the latest filing with the Securities and Exchange Commission, these shares are valued at approximately $1.09 million.

Several institutional investors have also modified their positions in Colgate-Palmolive recently. Mutual Advisors LLC increased its stake by 5.1%, bringing its total to 8,265 shares worth $727,000 after acquiring an additional 401 shares. Generali Asset Management SPA SGR notably expanded its holdings by 54.9%, now owning 101,806 shares valued at $9.25 million following the purchase of 36,072 shares.

Ritholtz Wealth Management raised its stake by 5.8%, owning 65,175 shares now worth $5.92 million after adding 3,544 shares. Curated Wealth Partners LLC increased its investment by 14.9%, holding 12,170 shares valued at $1.11 million, while Private Wealth Asset Management LLC boosted its position by 4.3%, bringing its total to 11,954 shares worth $1.09 million. Overall, institutional investors and hedge funds control 80.41% of Colgate-Palmolive’s stock.

Colgate-Palmolive’s Financial Performance

As of the latest trading session, Colgate-Palmolive shares opened at $78.43. The company has a market capitalization of $63.39 billion and a price-to-earnings (P/E) ratio of 22.03, indicating a relatively stable valuation in the consumer goods sector. The stock has a 50-day moving average price of $82.34 and a 200-day moving average price of $87.67. Over the past twelve months, the stock has fluctuated between a low of $76.68 and a high of $102.61.

Colgate-Palmolive recently announced a quarterly dividend of $0.52, set to be paid on November 14, 2023, to shareholders of record on October 17, 2023. This dividend equates to an annualized payout of $2.08, resulting in a dividend yield of 2.7%. The company’s current dividend payout ratio stands at 58.43%, indicating a balanced approach to returning value to shareholders while retaining capital for growth.

Analyst Insights and Market Outlook

Analysts have recently adjusted their price targets for Colgate-Palmolive shares. Bank of America reduced its target from $98.00 to $88.00, maintaining a “buy” rating. Morgan Stanley lowered its price objective from $104.00 to $96.00 with an “overweight” rating.

Barclays adjusted its target price from $87.00 to $82.00, assigning an “equal weight” rating. Similarly, JPMorgan Chase & Co. decreased its price target from $95.00 to $88.00 while keeping an “overweight” rating. UBS Group also revised its target from $99.00 to $92.00, maintaining a “buy” recommendation.

Currently, the stock has received eight “buy” ratings, five “hold” ratings, and one “sell” rating from analysts. According to MarketBeat, Colgate-Palmolive holds an average rating of “Moderate Buy” with an average target price of $92.21.

Colgate-Palmolive Company, along with its subsidiaries, produces and markets consumer products globally. The company operates through two primary segments: Oral, Personal and Home Care, and Pet Nutrition, offering a diverse range of products that include toothpaste, shampoos, and household cleaners. As institutional investors continue to navigate their positions in the company, the outlook for Colgate-Palmolive remains a topic of interest among market watchers.