Apexium Financial LP Lowers Holdings in Colgate-Palmolive Company $CL

Apexium Financial LP decreased its stake in Colgate-Palmolive Company (NYSE:CL) by 8.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,696 shares of the company’s stock after selling 250 shares during the quarter. Apexium Financial LP’s holdings in Colgate-Palmolive were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CL. Cornerstone Wealth Management LLC boosted its position in 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 purchasing an additional 110 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after purchasing an additional 129 shares in the last quarter. KFG Wealth Management LLC boosted its position in Colgate-Palmolive by 1.5% during the first quarter. KFG Wealth Management LLC now owns 8,835 shares of the company’s stock worth $828,000 after purchasing an additional 131 shares in the last quarter. MONECO Advisors LLC boosted its position in Colgate-Palmolive by 2.2% during the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock worth $567,000 after purchasing an additional 133 shares in the last quarter. Finally, Ledyard National Bank boosted its position in Colgate-Palmolive by 4.5% during the first quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock worth $290,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $78.01 on Friday. Colgate-Palmolive Company has a one year low of $77.91 and a one year high of $102.61. 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 stock has a market cap of $63.05 billion, a PE ratio of 21.91, a P/E/G ratio of 4.06 and a beta of 0.34. The stock has a 50 day moving average price of $83.29 and a 200 day moving average price of $88.32.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CL shares. Piper Sandler assumed coverage on Colgate-Palmolive in a research report on Friday. They set a “neutral” rating and a $84.00 price target on the stock. The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. Citigroup reduced their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. Barclays reduced their target price on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, UBS Group reduced their target price on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $94.83.

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.