Moneta Group Investment Advisors LLC boosted its stake in Colgate-Palmolive (NYSE:CL) by 432.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,167 shares of the company’s stock after purchasing an additional 6,634 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Colgate-Palmolive were worth $529,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of CL. Rainier Group Investment Advisory LLC bought a new position in shares of Colgate-Palmolive in the first quarter valued at $107,000. Quadrant Capital Group LLC lifted its stake in shares of Colgate-Palmolive by 142.4% in the first quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock valued at $108,000 after buying an additional 941 shares in the last quarter. CSat Investment Advisory L.P. bought a new position in shares of Colgate-Palmolive in the second quarter valued at $111,000. Centerpoint Advisors LLC bought a new position in shares of Colgate-Palmolive in the first quarter valued at $112,000. Finally, Bridgeworth LLC bought a new position in shares of Colgate-Palmolive in the second quarter valued at $120,000. Institutional investors and hedge funds own 74.54% of the company’s stock.
A number of research analysts have weighed in on CL shares. Argus reaffirmed a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. UBS Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and raised their price target for the company from $70.00 to $75.00 in a research report on Wednesday, July 18th. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 21st. Barclays set a $64.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Monday, July 30th. Finally, Wells Fargo & Co reissued a “hold” rating and set a $64.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average price target of $72.13.
CL opened at $65.35 on Tuesday. The stock has a market capitalization of $58.10 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72. The company has a debt-to-equity ratio of -34.49, a current ratio of 1.06 and a quick ratio of 0.74. Colgate-Palmolive has a twelve month low of $61.28 and a twelve month high of $77.91.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 27th. The company reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date is Thursday, October 18th. This represents a $1.68 annualized dividend and a dividend yield of 2.57%. Colgate-Palmolive’s payout ratio is 58.54%.
Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Monday, June 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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