Colgate-Palmolive Company $CL Shares Sold by BKM Wealth Management LLC

BKM Wealth Management LLC reduced its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,852 shares of the company’s stock after selling 339 shares during the period. BKM Wealth Management LLC’s holdings in Colgate-Palmolive were worth $896,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Westend Capital Management LLC grew its holdings in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC grew its holdings in Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank acquired a new stake in Colgate-Palmolive in the first quarter valued at approximately $29,000. Ransom Advisory Ltd purchased a new position in shares of Colgate-Palmolive in the first quarter valued at approximately $33,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Colgate-Palmolive in the first quarter valued at approximately $37,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 1.4%

Shares of CL opened at $79.14 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 12-month low of $76.68 and a 12-month high of $100.54. The firm has a 50-day moving average price of $81.96 and a 200 day moving average price of $87.34. The firm has a market capitalization of $63.96 billion, a P/E ratio of 22.23, a P/E/G ratio of 4.64 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Colgate-Palmolive’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. 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 payout ratio is currently 58.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Citigroup decreased their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a research report on Friday, October 10th. Bank of America decreased their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Finally, Piper Sandler assumed coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.21.

Colgate-Palmolive 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.