Financial Gravity Companies Inc. Invests $2.28 Million in Colgate-Palmolive Company $CL

Financial Gravity Companies Inc. purchased a new stake in Colgate-Palmolive Company (NYSE:CL) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 25,070 shares of the company’s stock, valued at approximately $2,279,000.

Several other large investors also recently bought and sold shares of CL. Grimes & Company Inc. boosted its stake in shares of Colgate-Palmolive by 1.0% in the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after acquiring an additional 118 shares during the last quarter. RFG Advisory LLC lifted its holdings 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 purchasing an additional 123 shares in the last quarter. Tiemann Investment Advisors LLC boosted its stake in Colgate-Palmolive by 2.1% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock worth $553,000 after purchasing an additional 125 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of 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 buying an additional 129 shares in the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CL shares. Bank of America dropped their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup cut their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Barclays dropped their target price on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 4th. Finally, Raymond James Financial reduced 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. Nine 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Price Performance

NYSE:CL opened at $78.01 on Friday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The stock’s fifty day moving average is $79.18 and its two-hundred day moving average is $85.21. The company has a market capitalization of $62.88 billion, a P/E ratio of 21.91, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

Colgate-Palmolive 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.