Hubbell Strickland Wealth Management LLC Acquires 215 Shares of Colgate-Palmolive Company $CL

Hubbell Strickland Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,485 shares of the company’s stock after acquiring an additional 215 shares during the period. Hubbell Strickland Wealth Management LLC’s holdings in Colgate-Palmolive were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CL. Cornerstone Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive by 1.2% in the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock valued at $847,000 after buying an additional 110 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in Colgate-Palmolive by 2.4% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock valued at $497,000 after acquiring an additional 129 shares in the last quarter. KFG Wealth Management LLC lifted its position in Colgate-Palmolive by 1.5% in the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company’s stock valued at $828,000 after acquiring an additional 131 shares in the last quarter. MONECO Advisors LLC lifted its position in Colgate-Palmolive by 2.2% in the 1st quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock valued at $567,000 after acquiring an additional 133 shares in the last quarter. Finally, Ledyard National Bank raised its stake in shares of Colgate-Palmolive by 4.5% in the 1st quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock valued at $290,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.4%

Shares of Colgate-Palmolive stock opened at $78.01 on Friday. The stock has a market cap of $63.05 billion, a P/E ratio of 21.91, a P/E/G ratio of 4.06 and a beta of 0.34. Colgate-Palmolive Company has a 12-month low of $77.91 and a 12-month high of $102.61. The business’s 50 day moving average is $83.29 and its 200-day moving average is $88.32. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping 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 business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Piper Sandler started coverage on Colgate-Palmolive in a research report on Friday. They set a “neutral” rating and a $84.00 price target for the company. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, Citigroup lowered their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and a consensus 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.