Colgate-Palmolive Company $CL Shares Purchased by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,841 shares of the company’s stock after acquiring an additional 738 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Colgate-Palmolive were worth $1,076,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD lifted its holdings in shares of Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the last quarter. Nuveen LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $217,593,000. Goldman Sachs Group Inc. lifted its holdings in shares of Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after acquiring an additional 2,045,191 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Colgate-Palmolive by 45.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after acquiring an additional 1,727,105 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Colgate-Palmolive by 60.5% during the 1st quarter. Alliancebernstein L.P. now owns 2,336,783 shares of the company’s stock worth $218,957,000 after buying an additional 880,527 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of CL opened at $78.01 on Friday. Colgate-Palmolive Company has a twelve month low of $77.91 and a twelve month high of $102.61. The firm’s fifty day simple moving average is $83.29 and its 200-day simple moving average is $88.32. The firm has a market capitalization of $63.05 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.06 and a beta of 0.34. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the business earned $0.91 EPS. The company’s revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CL shares. UBS Group reduced their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Citigroup reduced their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Morgan Stanley reduced their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Finally, Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Friday. They set a “neutral” rating and a $84.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.83.

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.