Pacific Point Advisors LLC Acquires 829 Shares of Colgate-Palmolive Company $CL

Pacific Point Advisors LLC increased its holdings in Colgate-Palmolive Company (NYSE:CL) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,076 shares of the company’s stock after purchasing an additional 829 shares during the period. Pacific Point Advisors LLC’s holdings in Colgate-Palmolive were worth $1,552,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC boosted its position in shares of Colgate-Palmolive by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock worth $847,000 after buying an additional 110 shares during the period. Redhawk Wealth Advisors Inc. raised its position in Colgate-Palmolive by 2.4% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock valued at $497,000 after buying an additional 129 shares during the last quarter. KFG Wealth Management LLC lifted its stake in Colgate-Palmolive by 1.5% in the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company’s stock valued at $828,000 after acquiring an additional 131 shares in the last quarter. MONECO Advisors LLC boosted its position in Colgate-Palmolive by 2.2% during the 1st quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock worth $567,000 after acquiring an additional 133 shares during the last quarter. Finally, Ledyard National Bank grew its stake in shares of Colgate-Palmolive by 4.5% during the 1st quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock worth $290,000 after acquiring an additional 134 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CL has been the topic of a number of research reports. Citigroup cut their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Barclays increased their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, Morgan Stanley dropped their target price on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.73.

Colgate-Palmolive Stock Performance

CL opened at $80.00 on Wednesday. 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 12-month low of $78.76 and a 12-month high of $103.82. The business has a 50 day moving average of $83.89 and a 200-day moving average of $88.56. The stock has a market cap of $64.66 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 4.18 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results 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. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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