Colgate-Palmolive Company $CL Holdings Boosted by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 28.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 158,457 shares of the company’s stock after buying an additional 35,219 shares during the quarter. Wealthfront Advisers LLC’s holdings in Colgate-Palmolive were worth $14,404,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Cornerstone Planning Group LLC grew its holdings in shares of Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Saudi Central Bank purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at $29,000. Ransom Advisory Ltd purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at $37,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at $37,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Friday. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective for the company. Finally, UBS Group reduced their price objective on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Colgate-Palmolive Stock Down 0.6%

Colgate-Palmolive stock opened at $78.01 on Monday. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 4.58 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $100.18. The firm has a fifty day moving average price of $81.33 and a two-hundred day moving average price of $86.90.

Colgate-Palmolive (NYSE:CL) last released its earnings results 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. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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 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 2.7%. Colgate-Palmolive’s payout ratio is currently 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.