Wedbush Securities Inc. Sells 1,824 Shares of Colgate-Palmolive Company $CL

Wedbush Securities Inc. cut its holdings in Colgate-Palmolive Company (NYSE:CL) by 10.1% during the second quarter, HoldingsChannel reports. The firm owned 16,231 shares of the company’s stock after selling 1,824 shares during the period. Wedbush Securities Inc.’s holdings in Colgate-Palmolive were worth $1,475,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CL. Brighton Jones LLC grew its stake in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth about $205,000. Arizona State Retirement System raised its position in shares of Colgate-Palmolive by 4.2% during the first quarter. Arizona State Retirement System now owns 232,696 shares of the company’s stock valued at $21,804,000 after buying an additional 9,364 shares during the last quarter. Schechter Investment Advisors LLC raised its position in shares of Colgate-Palmolive by 10.8% during the first quarter. Schechter Investment Advisors LLC now owns 3,115 shares of the company’s stock valued at $292,000 after buying an additional 304 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Colgate-Palmolive by 6.1% in the first quarter. Stephens Inc. AR now owns 15,391 shares of the company’s stock valued at $1,442,000 after buying an additional 885 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $78.76 on Monday. The business has a 50 day simple moving average of $79.73 and a 200 day simple moving average of $85.64. 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 company has a market capitalization of $63.48 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CL. Barclays lowered their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 4th. UBS Group decreased their price objective on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a research note on Friday, October 10th. Bank of America reduced their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Finally, Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.87.

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.