Colgate-Palmolive Company $CL Shares Sold by KBC Group NV

KBC Group NV lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 376,844 shares of the company’s stock after selling 1,342 shares during the quarter. KBC Group NV’s holdings in Colgate-Palmolive were worth $34,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CL. Grimes & Company Inc. raised its holdings in shares of Colgate-Palmolive by 1.0% during the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after purchasing an additional 118 shares during the last quarter. RFG Advisory LLC raised its stake in shares of Colgate-Palmolive by 1.4% during the 2nd quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after buying an additional 123 shares during the last quarter. Tiemann Investment Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 2.1% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock valued at $553,000 after buying an additional 125 shares during the period. Redhawk Wealth Advisors Inc. boosted its stake in shares of Colgate-Palmolive by 2.4% in the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after buying an additional 129 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

NYSE:CL opened at $78.57 on Thursday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The stock’s fifty day moving average is $79.42 and its two-hundred day moving average is $85.39. The company has a market capitalization of $63.33 billion, a P/E ratio of 22.07, a P/E/G ratio of 4.44 and a beta of 0.35. 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 (NYSE:CL) last posted its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price for the company. Barclays cut their price objective on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Finally, Citigroup lowered their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.87.

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.