Colgate-Palmolive Company $CL Shares Purchased by Klingman & Associates LLC

Klingman & Associates LLC boosted its position in Colgate-Palmolive Company (NYSE:CL) by 4.7% during the second quarter, Holdings Channel.com reports. The fund owned 3,735 shares of the company’s stock after purchasing an additional 169 shares during the quarter. Klingman & Associates LLC’s holdings in Colgate-Palmolive were worth $340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Phoenix Financial Ltd. boosted its holdings in Colgate-Palmolive by 27.3% in the second quarter. Phoenix Financial Ltd. now owns 4,097 shares of the company’s stock valued at $372,000 after acquiring an additional 879 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of Colgate-Palmolive by 2.4% during the second quarter. Avidian Wealth Enterprises LLC now owns 8,906 shares of the company’s stock worth $810,000 after purchasing an additional 212 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Colgate-Palmolive by 23.9% during the second quarter. Drive Wealth Management LLC now owns 3,121 shares of the company’s stock worth $284,000 after purchasing an additional 602 shares in the last quarter. Schnieders Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 2.0% during the second quarter. Schnieders Capital Management LLC now owns 12,494 shares of the company’s stock worth $1,136,000 after purchasing an additional 245 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its position in shares of Colgate-Palmolive by 13.6% during the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after acquiring an additional 39,413 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of analyst reports. 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 research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Bank of America reduced their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Citigroup reduced their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Finally, Wells Fargo & Company cut their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Eight 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Trading Down 0.2%

Shares of NYSE:CL opened at $78.60 on Wednesday. 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 1 year low of $76.68 and a 1 year high of $100.18. The firm has a fifty day moving average price of $81.72 and a 200 day moving average price of $87.13. The stock has a market capitalization of $63.52 billion, a PE ratio of 22.08, a P/E/G ratio of 4.62 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results 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 company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 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.