Canandaigua National Bank & Trust Co. purchased a new position in Colgate-Palmolive Company (NYSE:CL – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 14,190 shares of the company’s stock, valued at approximately $1,301,000.
A number of other hedge funds have also modified their holdings of CL. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the period. TD Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares in the last quarter. Triumph Capital Management lifted its holdings in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on CL shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. Morgan Stanley restated an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research report on Monday. Barclays increased their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Wells Fargo & Company raised their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.
Colgate-Palmolive Stock Performance
CL stock opened at $93.24 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.30 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The business’s 50-day moving average price is $91.05 and its two-hundred day moving average price is $89.66. The firm has a market cap of $74.33 billion, a PE ratio of 37.00, a P/E/G ratio of 4.52 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period last year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.85 earnings per share for the current year.
Colgate-Palmolive Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.
The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.
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