Kanawha Capital Management LLC Decreases Stock Position in Colgate-Palmolive Company $CL

Kanawha Capital Management LLC trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,275 shares of the company’s stock after selling 840 shares during the period. Kanawha Capital Management LLC’s holdings in Colgate-Palmolive were worth $6,752,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CL. Westend Capital Management LLC raised its position in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at approximately $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at approximately $37,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $79.14 on Friday. Colgate-Palmolive Company has a 1-year low of $76.68 and a 1-year high of $100.54. 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 business’s fifty day moving average price is $81.96 and its two-hundred day moving average price is $87.39. The firm has a market capitalization of $63.96 billion, a PE ratio of 22.23, a P/E/G ratio of 4.58 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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CL shares. JPMorgan Chase & Co. cut 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, October 10th. Morgan Stanley reduced their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Citigroup reduced their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.21.

Colgate-Palmolive Company 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.