Steward Partners Investment Advisory LLC Acquires 7,008 Shares of Colgate-Palmolive Company $CL

Steward Partners Investment Advisory LLC raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 12.3% in the second quarter, Holdings Channel reports. The firm owned 64,212 shares of the company’s stock after purchasing an additional 7,008 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Colgate-Palmolive were worth $5,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CL. Westside Investment Management Inc. grew its position in Colgate-Palmolive by 85.5% during 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 period. Saudi Central Bank purchased a new position in Colgate-Palmolive in the first quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at approximately $33,000. Y.D. More Investments Ltd purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $37,000. Finally, MTM Investment Management LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $39,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CL has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a report on Friday, October 10th. The Goldman Sachs Group dropped their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Barclays reduced their target price on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Trading Up 0.4%

Shares of CL opened at $80.14 on Thursday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The stock has a market cap of $64.59 billion, a PE ratio of 22.51, 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. The business’s 50-day moving average price is $78.60 and its 200-day moving average price is $84.57.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

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.