Cornerstone Wealth Group LLC Has $4.16 Million Holdings in Colgate-Palmolive Company $CL

Cornerstone Wealth Group LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 3.9% in the second quarter, Holdings Channel reports. The institutional investor owned 45,793 shares of the company’s stock after buying an additional 1,708 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Colgate-Palmolive were worth $4,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CL. Personal CFO Solutions LLC acquired a new position in shares of Colgate-Palmolive in the first quarter valued at $285,000. Vision Capital Management Inc. acquired a new position in shares of Colgate-Palmolive in the first quarter valued at $322,000. Autumn Glory Partners LLC raised its stake in shares of Colgate-Palmolive by 67.4% in the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock valued at $851,000 after purchasing an additional 3,586 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Colgate-Palmolive in the first quarter valued at $2,166,000. Finally, Penserra Capital Management LLC raised its stake in shares of Colgate-Palmolive by 398.6% in the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after purchasing an additional 8,515 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $76.99 on Tuesday. The business’s fifty day moving average price is $82.44 and its two-hundred day moving average price is $87.73. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The stock has a market capitalization of $62.22 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 4.29 and a beta of 0.34. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $102.61.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping 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 business’s revenue for the quarter 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. As a group, analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced 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. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group cut their target price on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup cut their target price 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. JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley lowered their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.21.

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.