Morningstar Investment Management LLC Buys 553 Shares of Colgate-Palmolive Company $CL

Morningstar Investment Management LLC grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 3.8% in the second quarter, HoldingsChannel.com reports. The fund owned 15,153 shares of the company’s stock after acquiring an additional 553 shares during the quarter. Morningstar Investment Management LLC’s holdings in Colgate-Palmolive were worth $1,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CL. Brighton Jones LLC lifted its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC lifted its position in shares of Colgate-Palmolive by 14.2% during the 1st quarter. GAMMA Investing LLC now owns 11,797 shares of the company’s stock valued at $1,105,000 after acquiring an additional 1,468 shares during the period. NorthCrest Asset Manangement LLC lifted its position in shares of Colgate-Palmolive by 65.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 3,329 shares of the company’s stock valued at $312,000 after acquiring an additional 1,321 shares during the period. Elevation Point Wealth Partners LLC lifted its position in shares of Colgate-Palmolive by 8.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 3,572 shares of the company’s stock valued at $335,000 after acquiring an additional 273 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Colgate-Palmolive by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 329,826 shares of the company’s stock valued at $30,905,000 after acquiring an additional 63,419 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of CL opened at $76.99 on Tuesday. Colgate-Palmolive Company has a 12-month low of $76.68 and a 12-month high of $102.61. The business has a 50-day simple moving average of $82.44 and a two-hundred day simple moving average of $87.73. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock has a market cap of $62.22 billion, a PE ratio of 21.63, a PEG ratio of 4.29 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analysts Forecast Growth

CL has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research report on Friday. The Goldman Sachs Group dropped their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Citigroup dropped their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Morgan Stanley dropped their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, UBS Group dropped their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $92.21.

Colgate-Palmolive Profile

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.