Venturi Wealth Management LLC Lowers Position in Colgate-Palmolive Company $CL

Venturi Wealth Management LLC reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 9.8% during the second quarter, HoldingsChannel reports. The fund owned 21,275 shares of the company’s stock after selling 2,306 shares during the period. Venturi Wealth Management LLC’s holdings in Colgate-Palmolive were worth $1,934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Personal CFO Solutions LLC bought a new stake in Colgate-Palmolive during the first quarter valued at about $285,000. Vision Capital Management Inc. purchased a new stake in shares of Colgate-Palmolive in the first quarter worth about $322,000. Autumn Glory Partners LLC raised its position in Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock valued at $851,000 after purchasing an additional 3,586 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in Colgate-Palmolive during the first quarter valued at approximately $2,166,000. Finally, Penserra Capital Management LLC raised its position in Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after purchasing an additional 8,515 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 2.0%

Colgate-Palmolive stock opened at $78.99 on Wednesday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The stock has a market capitalization of $63.84 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 4.03 and a beta of 0.34. Colgate-Palmolive Company has a 1-year low of $77.09 and a 1-year high of $102.61. The business has a fifty day moving average price of $82.95 and a 200-day moving average price of $88.15.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.43%.

Analysts Set New Price Targets

CL has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. UBS Group dropped their target price on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Citigroup dropped their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Seven investment 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.com, the stock has a consensus rating of “Hold” and a consensus 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.