Colonial Trust Advisors Cuts Stock Holdings in Colgate-Palmolive Company $CL

by · The Markets Daily

Colonial Trust Advisors trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 7.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,636 shares of the company’s stock after selling 650 shares during the period. Colonial Trust Advisors’ holdings in Colgate-Palmolive were worth $785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Colgate-Palmolive during the second quarter worth about $960,390,000. Scotia Capital Inc. grew its holdings in shares of Colgate-Palmolive by 7.8% during the 2nd quarter. Scotia Capital Inc. now owns 68,962 shares of the company’s stock worth $6,269,000 after purchasing an additional 4,980 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Colgate-Palmolive by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 59,964 shares of the company’s stock valued at $5,451,000 after buying an additional 3,992 shares during the period. Johnson Financial Group Inc. lifted its position in Colgate-Palmolive by 60.4% during the second quarter. Johnson Financial Group Inc. now owns 16,288 shares of the company’s stock valued at $1,481,000 after buying an additional 6,132 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Colgate-Palmolive by 3.7% during the second quarter. Quadrant Capital Group LLC now owns 13,675 shares of the company’s stock worth $1,243,000 after buying an additional 486 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CL. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Piper Sandler began coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective on the stock. The Goldman Sachs Group decreased their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a report on Friday, October 10th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.87.

Get Our Latest Report on Colgate-Palmolive

Colgate-Palmolive Trading Up 1.2%

Shares of CL opened at $80.99 on Friday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The stock has a 50-day moving average price of $78.57 and a 200 day moving average price of $84.48. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company has a market capitalization of $65.28 billion, a P/E ratio of 22.75, a P/E/G ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Colgate-Palmolive Company Profile

(Free Report)

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.

See Also

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