Colgate-Palmolive Company $CL Shares Sold by Empowered Funds LLC

Empowered Funds LLC lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,758 shares of the company’s stock after selling 4,231 shares during the period. Empowered Funds LLC’s holdings in Colgate-Palmolive were worth $7,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CL. Westside Investment Management Inc. boosted its holdings in Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares during the period. Saudi Central Bank bought a new position in shares of Colgate-Palmolive in the 1st quarter worth about $29,000. Ransom Advisory Ltd bought a new position in shares of Colgate-Palmolive in the 1st quarter worth about $33,000. Y.D. More Investments Ltd acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $37,000. Finally, MTM Investment Management LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $39,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. UBS Group dropped their price target on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. 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. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group cut their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $78.47 on Thursday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market capitalization of $63.25 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. The business has a 50 day simple moving average of $78.88 and a 200 day simple moving average of $84.95.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

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.