Commonwealth Equity Services LLC grew its stake in Colgate-Palmolive (NYSE:CL) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 303,070 shares of the company’s stock after purchasing an additional 5,722 shares during the period. Commonwealth Equity Services LLC’s holdings in Colgate-Palmolive were worth $24,654,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CL. Cowen Prime Advisors LLC acquired a new position in Colgate-Palmolive in the 2nd quarter valued at $28,000. Horan Securities Inc. boosted its holdings in shares of Colgate-Palmolive by 60.1% in the second quarter. Horan Securities Inc. now owns 341 shares of the company’s stock valued at $28,000 after acquiring an additional 128 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Colgate-Palmolive during the second quarter worth about $32,000. First PREMIER Bank purchased a new position in Colgate-Palmolive during the second quarter worth about $33,000. Finally, Lumature Wealth Partners LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at about $59,000. 76.28% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on CL shares. Credit Suisse Group raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $95.00 in a report on Wednesday, June 9th. UBS Group started coverage on Colgate-Palmolive in a report on Wednesday, June 23rd. They issued a “buy” rating and a $95.00 target price for the company. Evercore ISI reaffirmed a “buy” rating and set a $95.00 price target on shares of Colgate-Palmolive in a research note on Sunday, June 20th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $84.00 to $86.00 in a report on Monday, September 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $85.69.
Shares of Colgate-Palmolive stock opened at $76.63 on Friday. Colgate-Palmolive has a 1 year low of $74.14 and a 1 year high of $86.41. The company has a debt-to-equity ratio of 9.22, a current ratio of 1.11 and a quick ratio of 0.70. The business has a 50 day moving average price of $78.91 and a 200 day moving average price of $80.27. The company has a market capitalization of $64.64 billion, a P/E ratio of 24.02, a P/E/G ratio of 3.98 and a beta of 0.60.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 29th. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.24 billion. Colgate-Palmolive had a return on equity of 293.48% and a net margin of 15.98%. Colgate-Palmolive’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. As a group, research analysts expect that Colgate-Palmolive will post 3.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Thursday, October 21st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, October 20th. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.82%.
Colgate-Palmolive Company Profile
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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