West Family Investments Increases Stake in Colgate-Palmolive by 19.1%

West Family Investments Inc. has bolstered its investment in Colgate-Palmolive Company (NYSE: CL) by acquiring an additional 800 shares during the second quarter of 2023. This move has increased its stake by 19.1%, bringing its total holdings to 4,981 shares, valued at approximately $453,000 as of the end of June.

The investment landscape for Colgate-Palmolive is showing notable activity, with a number of other institutional investors also adjusting their positions. For instance, Westside Investment Management Inc. raised its holdings by 85.5%, now owning 282 shares valued at $26,000 after purchasing an additional 130 shares. Similarly, Vermillion & White Wealth Management Group LLC increased its stake by 86.1%, bringing its total to 335 shares worth $30,000.

Additional investments include a new stake acquired by Saudi Central Bank valued at approximately $29,000 and new positions taken by Ransom Advisory Ltd and Y.D. More Investments Ltd, valued at $33,000 and $37,000, respectively. Overall, institutional investors now own 80.41% of Colgate-Palmolive’s stock, reflecting growing confidence in the company.

Colgate-Palmolive Stock Performance

As of the latest trading session, Colgate-Palmolive shares opened at $80.99. The stock has experienced fluctuations, with a fifty-day moving average price of $78.57 and a 200-day moving average price of $84.46. Over the past year, the stock has seen a low of $74.54 and a high of $100.18. The company holds a market capitalization of $65.28 billion, with a price-to-earnings ratio of 22.75 and a beta of 0.35.

Colgate-Palmolive also recently announced a quarterly dividend of $0.52, which was paid on November 14, 2023. Shareholders on record as of October 17, 2023 received this dividend, which represents an annualized payout of $2.08 and a dividend yield of 2.6%. The current dividend payout ratio stands at 58.26%, indicating a stable return for investors.

Analyst Ratings and Market Outlook

Recent changes in analyst ratings reflect varied perspectives on Colgate-Palmolive’s stock trajectory. The Goldman Sachs Group adjusted its target price from $106.00 to $91.00, maintaining a “buy” rating. Piper Sandler initiated coverage with a “neutral” rating and a price target of $84.00.

Further adjustments include Citigroup lowering its price objective from $105.00 to $95.00, while Bank of America adjusted its target from $98.00 to $88.00. UBS Group also revised its estimate, dropping the target from $92.00 to $90.00. Currently, nine analysts have rated the stock as a buy, five have a hold rating, and one has assigned a sell rating. According to data from MarketBeat, the consensus rating for Colgate-Palmolive is a “Moderate Buy” with an average target price of $89.87.

Colgate-Palmolive Company, known for its extensive range of consumer products, operates through two primary segments: Oral, Personal and Home Care, and Pet Nutrition. Its offerings include toothpaste, shampoos, conditioners, and various household cleaning products.

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