2,565 Shares in Colgate-Palmolive Company $CL Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC bought a new stake in Colgate-Palmolive Company (NYSE:CL) during the second quarter, HoldingsChannel reports. The institutional investor bought 2,565 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also modified their holdings of CL. Grimes & Company Inc. raised its holdings in shares of Colgate-Palmolive by 1.0% in the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after buying an additional 118 shares during the period. RFG Advisory LLC grew its position in Colgate-Palmolive by 1.4% in the 2nd quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after acquiring an additional 123 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its stake in 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 increased its stake in 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, Sowell Financial Services LLC lifted its position in shares of Colgate-Palmolive by 2.5% during the second quarter. Sowell Financial Services LLC now owns 5,478 shares of the company’s stock worth $498,000 after purchasing an additional 134 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.9%

CL opened at $77.10 on Wednesday. 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 Company has a one year low of $76.68 and a one year high of $100.18. The company has a market cap of $62.31 billion, a P/E ratio of 21.66, a PEG ratio of 4.57 and a beta of 0.34. The business’s 50-day simple moving average is $81.03 and its 200-day simple moving average is $86.71.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on CL shares. The Goldman Sachs Group cut their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. UBS Group reduced their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price for the company. Raymond James Financial cut their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Citigroup decreased their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.