Moran Wealth Management LLC Has $15.23 Million Stock Position in Colgate-Palmolive Company $CL

Moran Wealth Management LLC grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 2,126.5% during the 2nd quarter, Holdings Channel reports. The firm owned 167,565 shares of the company’s stock after buying an additional 160,039 shares during the period. Moran Wealth Management LLC’s holdings in Colgate-Palmolive were worth $15,232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornerstone Wealth Group LLC boosted its stake in shares of Colgate-Palmolive by 3.9% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 45,793 shares of the company’s stock worth $4,163,000 after acquiring an additional 1,708 shares during the period. NorthRock Partners LLC boosted its stake in shares of Colgate-Palmolive by 11.6% during the 2nd quarter. NorthRock Partners LLC now owns 9,383 shares of the company’s stock worth $853,000 after acquiring an additional 974 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Colgate-Palmolive by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 69,944 shares of the company’s stock worth $6,358,000 after acquiring an additional 200 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Colgate-Palmolive by 18.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after acquiring an additional 4,738 shares during the period. Finally, MGO One Seven LLC boosted its stake in shares of Colgate-Palmolive by 107.2% during the 2nd quarter. MGO One Seven LLC now owns 14,351 shares of the company’s stock worth $1,304,000 after acquiring an additional 7,424 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CL shares. Morgan Stanley reduced their target price on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price for the company. Barclays reduced 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.21.

Colgate-Palmolive Stock Performance

CL opened at $76.99 on Tuesday. The business has a fifty day simple moving average of $82.44 and a 200 day simple moving average of $87.73. The company has a market capitalization of $62.22 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 4.29 and a beta of 0.34. Colgate-Palmolive Company has a 1 year low of $76.68 and a 1 year high of $102.61. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. Research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed 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 yield of 2.7%. Colgate-Palmolive’s payout ratio is currently 58.43%.

About Colgate-Palmolive

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.