Biltmore Family Office LLC Sells 3,210 Shares of Colgate-Palmolive Company $CL

Biltmore Family Office LLC decreased its stake in Colgate-Palmolive Company (NYSE:CL) by 34.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,108 shares of the company’s stock after selling 3,210 shares during the period. Biltmore Family Office LLC’s holdings in Colgate-Palmolive were worth $555,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Personal CFO Solutions LLC purchased a new position in Colgate-Palmolive in the 1st quarter worth $285,000. Vision Capital Management Inc. purchased a new stake in Colgate-Palmolive during the 1st quarter valued at about $322,000. Financial Gravity Asset Management Inc. purchased a new stake in Colgate-Palmolive during the 1st quarter valued at about $2,166,000. Cidel Asset Management Inc. boosted its holdings in Colgate-Palmolive by 13.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after acquiring an additional 39,413 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in Colgate-Palmolive by 398.6% during the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after acquiring an additional 8,515 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $77.10 on Wednesday. The firm has a market cap of $62.31 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 4.57 and a beta of 0.34. Colgate-Palmolive Company has a 12-month low of $76.68 and a 12-month high of $100.18. 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 company’s fifty day simple moving average is $81.03 and its two-hundred day simple moving average is $86.71.

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

Colgate-Palmolive Announces Dividend

The business 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. This represents a $2.08 annualized dividend 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 currently 58.43%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price for the company. Bank of America cut their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, Barclays cut 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. Eight investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

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.