Sax Wealth Advisors LLC Lowers Position in Colgate-Palmolive Company $CL

Sax Wealth Advisors LLC cut its stake in Colgate-Palmolive Company (NYSE:CL) by 17.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,341 shares of the company’s stock after selling 4,219 shares during the period. Sax Wealth Advisors LLC’s holdings in Colgate-Palmolive were worth $1,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CL. Westend Capital Management LLC lifted its holdings in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 140 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank bought a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $29,000. Ransom Advisory Ltd bought a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $37,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 2.0%

CL opened at $78.99 on Wednesday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a fifty-two week low of $77.09 and a fifty-two week high of $102.61. The firm’s fifty day moving average is $82.95 and its 200 day moving average is $88.15. The stock has a market cap of $63.84 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 4.03 and a beta of 0.34.

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

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive’s payout ratio is presently 58.43%.

Analyst Upgrades and Downgrades

CL has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Barclays cut their target price on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research report on Friday. They issued a “neutral” rating and a $84.00 target price for the company. Seven 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 data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $94.83.

Colgate-Palmolive Company 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.