Phoenix Financial Ltd. Purchases 879 Shares of Colgate-Palmolive Company $CL

Phoenix Financial Ltd. grew its position in Colgate-Palmolive Company (NYSE:CL) by 27.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,097 shares of the company’s stock after purchasing an additional 879 shares during the period. Phoenix Financial Ltd.’s holdings in Colgate-Palmolive were worth $372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westend Capital Management LLC raised its holdings in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 287 shares in the last quarter. Saudi Central Bank bought a new stake in Colgate-Palmolive during the first quarter worth about $29,000. Ransom Advisory Ltd bought a new stake in Colgate-Palmolive during the first quarter worth about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Colgate-Palmolive during the first quarter worth about $37,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $79.86 on Thursday. Colgate-Palmolive Company has a 12 month low of $76.68 and a 12 month high of $100.18. The stock’s 50 day moving average is $81.59 and its 200-day moving average is $87.08. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The company has a market capitalization of $64.54 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 4.61 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating 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 company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CL. Wells Fargo & Company lowered their price target 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. Citigroup lowered their price target 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. Piper Sandler began coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target on the stock. Bank of America lowered 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. Finally, Barclays lowered their price target 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. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

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.