Armstrong Fleming & Moore Inc Invests $271,000 in Colgate-Palmolive Company $CL

Armstrong Fleming & Moore Inc bought a new position in Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,977 shares of the company’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its stake in Colgate-Palmolive by 2.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 39,075 shares of the company’s stock worth $3,552,000 after buying an additional 1,076 shares in the last quarter. Massachusetts Wealth Management grew its holdings in shares of Colgate-Palmolive by 1.8% during the second quarter. Massachusetts Wealth Management now owns 12,822 shares of the company’s stock valued at $1,166,000 after buying an additional 225 shares during the last quarter. Valmark Advisers Inc. lifted its position in Colgate-Palmolive by 2.2% during the second quarter. Valmark Advisers Inc. now owns 10,588 shares of the company’s stock valued at $962,000 after purchasing an additional 232 shares during the period. Secured Retirement Advisors LLC raised its position in shares of Colgate-Palmolive by 4.5% in the second quarter. Secured Retirement Advisors LLC now owns 21,318 shares of the company’s stock worth $1,938,000 after acquiring an additional 912 shares during the period. Finally, Mirova US LLC raised its position in shares of Colgate-Palmolive by 17.2% during the 2nd quarter. Mirova US LLC now owns 18,880 shares of the company’s stock worth $1,716,000 after purchasing an additional 2,769 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CL shares. The Goldman Sachs Group reduced their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday. Citigroup reduced their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Finally, Barclays decreased their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $93.23.

Colgate-Palmolive Stock Down 1.5%

CL opened at $77.96 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The stock’s fifty day simple moving average is $82.79 and its 200 day simple moving average is $88.08. Colgate-Palmolive Company has a 1-year low of $77.09 and a 1-year high of $102.61. The stock has a market cap of $63.01 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share 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 business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the firm posted $0.91 earnings per share. Colgate-Palmolive’s revenue was up 1.0% compared to the same quarter last year. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

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.