Modera Wealth Management LLC Cuts Stock Position in Colgate-Palmolive Company $CL

Modera Wealth Management LLC cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,310 shares of the company’s stock after selling 7,257 shares during the quarter. Modera Wealth Management LLC’s holdings in Colgate-Palmolive were worth $9,845,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Cidel Asset Management Inc. boosted its holdings in shares of Colgate-Palmolive by 13.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after buying an additional 39,413 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Colgate-Palmolive by 18.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock valued at $2,752,000 after acquiring an additional 4,738 shares during the period. Secured Retirement Advisors LLC lifted its position in Colgate-Palmolive by 564.3% during the 1st quarter. Secured Retirement Advisors LLC now owns 20,406 shares of the company’s stock valued at $1,912,000 after acquiring an additional 17,334 shares during the period. Arista Wealth Management LLC bought a new stake in Colgate-Palmolive during the second quarter worth about $571,000. Finally, Mraz Amerine & Associates Inc. purchased a new stake in Colgate-Palmolive in the second quarter worth about $300,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a report on Friday, October 10th. Evercore ISI lowered their price objective on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Monday. UBS Group cut their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Citigroup reduced their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Nine investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Trading Up 1.9%

Colgate-Palmolive stock opened at $78.76 on Friday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The business’s fifty day moving average is $79.73 and its 200 day moving average is $85.77. The stock has a market capitalization of $63.48 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. 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 issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts predict 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. Investors 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 yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is 58.26%.

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.