Journey Strategic Wealth LLC Invests $702,000 in Colgate-Palmolive Company $CL

Journey Strategic Wealth LLC acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,728 shares of the company’s stock, valued at approximately $702,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after buying an additional 993,432 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after purchasing an additional 2,045,191 shares in the last quarter. Deutsche Bank AG raised its stake in Colgate-Palmolive by 3.7% during the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after purchasing an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Colgate-Palmolive by 2.6% in the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after purchasing an additional 177,833 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CL shares. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Bank of America cut their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup decreased their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Morgan Stanley dropped their price objective on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Finally, Barclays reduced their target price on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 4th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $80.97 on Friday. The firm has a fifty day simple moving average of $78.73 and a two-hundred day simple moving average of $84.84. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock has a market capitalization of $65.27 billion, a P/E ratio of 22.74, a PEG ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last announced its quarterly 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. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 17th were issued a $0.52 dividend. The ex-dividend date was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s 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.