Moran Wealth Management LLC Buys 160,039 Shares of Colgate-Palmolive Company $CL

Moran Wealth Management LLC grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 2,126.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,565 shares of the company’s stock after buying an additional 160,039 shares during the period. Moran Wealth Management LLC’s holdings in Colgate-Palmolive were worth $15,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC raised its position in shares of Colgate-Palmolive by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock worth $847,000 after purchasing an additional 110 shares during the period. Grimes & Company Inc. raised its position in shares of Colgate-Palmolive by 1.0% during the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after purchasing an additional 118 shares during the period. Redhawk Wealth Advisors Inc. raised its position in shares of Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after purchasing an additional 129 shares during the period. MONECO Advisors LLC raised its position in shares of Colgate-Palmolive by 2.2% during the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock worth $567,000 after purchasing an additional 133 shares during the period. Finally, Ledyard National Bank raised its position in shares of Colgate-Palmolive by 4.5% during the first quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock worth $290,000 after purchasing an additional 134 shares during the period. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group dropped their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. The Goldman Sachs Group dropped their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Bank of America dropped their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Barclays dropped their target price on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday. Eight 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Stock Down 1.2%

Shares of Colgate-Palmolive stock opened at $76.99 on Tuesday. The business’s 50 day simple moving average is $82.44 and its 200 day simple moving average is $87.73. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $102.61. The firm has a market cap of $62.22 billion, a PE ratio of 21.63, a P/E/G ratio of 4.29 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

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

Colgate-Palmolive Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is 58.43%.

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.