Clark Asset Management LLC Invests $638,000 in Colgate-Palmolive Company $CL

Clark Asset Management LLC acquired a new position in Colgate-Palmolive Company (NYSE:CL) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 7,021 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CL. Cornerstone Planning Group LLC increased its stake in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth $29,000. Ransom Advisory Ltd purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth $37,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth $37,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CL shares. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Morgan Stanley cut their price target 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. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Finally, Raymond James Financial cut their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.50.

Colgate-Palmolive Trading Down 0.3%

Shares of Colgate-Palmolive stock opened at $77.79 on Tuesday. The firm has a market cap of $62.87 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.58 and a beta of 0.34. The business has a 50-day moving average price of $81.20 and a 200-day moving average price of $86.81. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a twelve month low of $76.68 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 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.