Empowered Funds LLC Cuts Position in Colgate-Palmolive Company $CL

Empowered Funds LLC lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 85,758 shares of the company’s stock after selling 4,231 shares during the quarter. Empowered Funds LLC’s holdings in Colgate-Palmolive were worth $7,795,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. grew its stake in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. Saudi Central Bank purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter valued at $33,000. Y.D. More Investments Ltd purchased a new stake in Colgate-Palmolive during the 1st quarter worth $37,000. Finally, MTM Investment Management LLC purchased a new stake in Colgate-Palmolive during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CL. Raymond James Financial cut their price objective on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. The Goldman Sachs Group lowered their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Morgan Stanley reduced their price target on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Barclays decreased their price target 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, JPMorgan Chase & Co. dropped their price objective on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Trading Down 1.1%

Shares of CL opened at $78.47 on Thursday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The stock has a 50-day moving average price of $78.88 and a 200 day moving average price of $84.95. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company has a market capitalization of $63.25 billion, a P/E ratio of 22.04, a P/E/G ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted 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. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.7%. Colgate-Palmolive’s dividend payout ratio is currently 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.