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Thumbnail image showcasing Colgate-Palmolive products, including shampoo and oral care items in a visually appealing layout.

Colgate-Palmolive: Two Centuries of Excellence in Global Consumer Goods

Colgate-Palmolive Company (ColgatePalm) is a global company whose highly renowned brands can be found in the homes of hundreds of millions of consumers around the world, with Colgate-Palmolive stock being a key player in the market.

Founded almost 200 years ago in 1806 by William Colgate, the company began as a starch, soap and candle business in New York City. In 1857 upon the death of William Colgate, management of the company was ceded to his son Samuel.

In 1864, B.J. Johnson establishes a soap factory in Wisconsin, which eventually goes on to become the Palmolive Company. In 1866, Colgate introduces perfumed soap, perfume and essence into its product range.

Eight years later Cashmere Bouquet, the first milled perfumed toilet soap, is registered as a Colgate trademark brand. In 1873, Colgate begins retailing aromatic, jarred toothpaste, followed by toothpaste in a collapsible tube in 1896. Palmolive soap was first introduced in 1898 by B.I. Johnson Soap Company.

In 1906, Colgate & Company celebrated its 100-year anniversary, by which time its product line comprised of 800+ different items. In 1908, Colgate is incorporated by Samuel’s 5 sons.

By 1914, Colgate established its first international subsidiary in Canada, and by 1920 it had operations in Europe, Asia, Latin America, and Africa. Palmolive and Peet merge in 1926 to become Palmolive-Peet Company, which in turn merged with Colgate in 1928 to become the Colgate-Palmolive-Peet Company.

On 13 March 1930, Colgate listed on the New York Stock Exchange. In 1953, Colgate-Palmolive Company becomes the enterprises official name and in 1956 it opened its corporate headquarters in Park Avenue in New York City.

In 1983, the Colgate Plus Toothbrush was launched. Today, 1.6 billion+ Colgate toothbrushes are sold annually, which, interestingly, if lined up, would circle the earth 16 times. In 1989, Colgate-Palmolive sales exceeded $5 billion.

From 1990 to date, the company has continued to innovate, selling its growing product range in more than 200 countries and territories across the globe. Its focus remains on Oral Care, Personal Care, Home Care, and Pet Nutrition.

Palmolive shampoo and other products lined up, showcasing items for stock investment consideration.

Market capitalisation and stock listings

Colgate-Palmolive is listed and trades on the New York Stock Exchange under the ticker symbol #CL. The company’s market capitalisation as of 27 September is valued at US$84.7 billion, with revenue of US$19.99 billion, and a net income of US$2.84 billion.

Top institutional shareholders

As of 30 June 2024, the top institutional holders of the company include Vanguard Group Inc., which holds 80.32 million shares, representing 9.83% of the company with a total value of US$8.33 billion. Blackrock Inc. follows with 61.62 million shares or 7.54%, valued at US$6.3 billion.

State Street Corporation holds 46.65 million shares, accounting for 5.71%, worth US$4.8 billion. Price (T. Rowe) Associates Inc. owns 38.25 million shares, equating to 4.68% with a value of US$3.9 billion, while Geode Capital Management, LLC holds 19.64 million shares, or 2.40%, valued at US$2.04 billion.

Other notable holders include Morgan Stanley with 17.94 million shares (2.20%), Wellington Management Group, LLP with 16.58 million shares (2.03%), and Norges Bank Investment Management with 9.85 million shares (1.21%). Amundi and First Eagle Investment Management, LLC round out the top ten, holding 9.37 million (1.15%) and 9.03 million (1.10%) shares, respectively, with values of US$971.3 million and US$935.6 million.

Top Mutual Fund holders

As of mid-2024, the top mutual fund holders include the Vanguard Total Stock Market Index Fund, which holds 25.85 million shares, representing 3.16% of the company and valued at US$2.6 billion. The Vanguard 500 Index Fund follows with 21.06 million shares (2.58%), worth US2.18 billion.

Vanguard Specialised-Dividend Growth Fund holds 16.59 million shares, or 2.03%, valued at US$1.72 billion as of 30 April 2024.

As of 31 July 2024, Fidelity 500 Index Fund owns 10.03 million shares (1.23%), worth US$1.04 billion. As of 31 August 2024, SPDR S&P 500 ETF Trust holds 9.76 million shares (1.19%), valued at US$1.01 billion, while iShares Core S&P 500 ETF holds 9 million shares (1.10%), with a value of $932.67 million.

First Eagle Global Fund and Select Sector SPDR Fund-Consumer Staples hold 5.9 million shares (0.72%) and 5.68 million shares (0.70%), valued at $611.19 million and $588.68 million, respectively.

Rounding out the list are the Vanguard Institutional Index Fund with 5.33 million shares (0.65%) and the Vanguard Specialised-Dividend Appreciation Index Fund with 4.44 million shares (0.54%), worth $552.73 million and $460.57 million, respectively.

Colgate-Palmolive announces acquisition of The Body Shop for $1 billion, signaling a strategic stock investment move.

Colgate announces 2  quarter 2024 results

In the second quarter of 2024, Colgate-Palmolive’s total company results showed a 4.9% increase in net sales, rising from $4.82 billion in 2023 to $5.06 billion.

Diluted earnings per Colgate-Palmolive Stock (EPS) also saw significant growth, increasing by 48% from $0.60 in 2023 to $0.89 in 2024.

Gross profit margin saw significant growth, rising 280 basis points to 60.6% on a GAAP basis, and 300 basis points to 60.8% for base business.

Colgate-Palmolive’s leadership in the global market was reinforced with a 41.5% share in toothpaste and 32.2% in manual toothbrushes.

For the first six months of 2024, net cash from operations reached $1.67 billion, and the company updated its full-year financial outlook.

Colgate-Palmolive’s Strong Growth Trajectory: What to Expect in 2025

As we look ahead to 2025, Colgate-Palmolive’s stock is expected to continue its positive performance driven by the company’s strong financial results and market leadership.

With a focus on innovation, sustainability, and expanding in emerging markets, Colgate-Palmolive is well-positioned for long-term growth.

Analysts predict that Colgate-Palmolive stock could see further appreciation, supported by its resilient product portfolio in oral care, personal care, home care, and pet nutrition, along with its solid cash flow and profitability outlook. Investors may continue to benefit from Colgate-Palmolive’s commitment to delivering value in the coming year.

Colgate toothpaste and a toothbrush are showcased on a striking red background, representing essential oral care items.

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Clause de non-responsabilité : Ces informations ne doivent pas être considérées comme un conseil ou une recommandation d'investissement, mais uniquement comme une communication marketing. IronFX n'est pas responsable des données ou informations fournies par des tiers référencés, ou en lien hypertexte, dans cette communication.

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