Colgate-Palmolive Company $CL Position Boosted by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,793 shares of the company’s stock after acquiring an additional 1,708 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Colgate-Palmolive were worth $4,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CL. Price T Rowe Associates Inc. MD grew its stake in Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares in the last quarter. Nuveen LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at approximately $217,593,000. Goldman Sachs Group Inc. grew its stake in shares of Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after buying an additional 2,045,191 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 45.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock valued at $521,250,000 after buying an additional 1,727,105 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Colgate-Palmolive by 60.5% in the 1st quarter. Alliancebernstein L.P. now owns 2,336,783 shares of the company’s stock valued at $218,957,000 after buying an additional 880,527 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays lowered their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Citigroup lowered their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday. Eight 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.21.

Colgate-Palmolive Stock Down 1.2%

Shares of Colgate-Palmolive stock opened at $76.99 on Tuesday. The stock has a market capitalization of $62.22 billion, a P/E ratio of 21.63, a PEG ratio of 4.29 and a beta of 0.34. 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 stock has a 50 day moving average price of $82.44 and a two-hundred day moving average price of $87.73. Colgate-Palmolive Company has a 12-month low of $76.68 and a 12-month high of $102.61.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is 58.43%.

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.