Liberty One Investment Management LLC raised its stake in Colgate-Palmolive Company (NYSE:CL – Free Report) by 1.9% in the second quarter, HoldingsChannel.com reports. The fund owned 60,652 shares of the company’s stock after buying an additional 1,144 shares during the quarter. Liberty One Investment Management LLC’s holdings in Colgate-Palmolive were worth $5,513,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Grimes & Company Inc. raised its holdings in shares of Colgate-Palmolive by 1.0% during the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after buying an additional 118 shares during the last quarter. RFG Advisory LLC raised its holdings in shares of Colgate-Palmolive by 1.4% during the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after buying an additional 123 shares during the last quarter. Redhawk Wealth Advisors Inc. raised 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 valued at $497,000 after buying an additional 129 shares during the last quarter. MONECO Advisors LLC raised its holdings in shares of Colgate-Palmolive by 2.2% during the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock valued at $567,000 after buying an additional 133 shares during the last quarter. Finally, Ledyard National Bank raised its holdings in shares of Colgate-Palmolive by 4.5% during the first quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock valued at $290,000 after buying an additional 134 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. UBS Group cut their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Finally, Raymond James Financial dropped their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday. Eight equities 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.
Colgate-Palmolive Price Performance
NYSE CL opened at $78.76 on Tuesday. The stock has a market capitalization of $63.65 billion, a P/E ratio of 22.12, a P/E/G ratio of 4.64 and a beta of 0.34. Colgate-Palmolive Company has a 1 year low of $76.68 and a 1 year high of $100.49. The business’s fifty day moving average is $81.85 and its two-hundred day moving average is $87.19. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion for 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 firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.
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.
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