Ritholtz Wealth Management Has $5.92 Million Position in Colgate-Palmolive Company $CL

Ritholtz Wealth Management raised its position in Colgate-Palmolive Company (NYSE:CL) by 5.8% in the 2nd quarter, Holdings Channel reports. The firm owned 65,175 shares of the company’s stock after buying an additional 3,544 shares during the period. Ritholtz Wealth Management’s holdings in Colgate-Palmolive were worth $5,924,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Curated Wealth Partners LLC grew its holdings in shares of Colgate-Palmolive by 14.9% in the 2nd quarter. Curated Wealth Partners LLC now owns 12,170 shares of the company’s stock valued at $1,106,000 after buying an additional 1,574 shares during the period. Private Wealth Asset Management LLC raised its stake in Colgate-Palmolive by 4.3% during the 2nd quarter. Private Wealth Asset Management LLC now owns 11,954 shares of the company’s stock worth $1,087,000 after buying an additional 495 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Colgate-Palmolive by 27.9% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 10,483 shares of the company’s stock worth $953,000 after acquiring an additional 2,286 shares in the last quarter. Sagespring Wealth Partners LLC grew its stake in Colgate-Palmolive by 4.8% in the second quarter. Sagespring Wealth Partners LLC now owns 7,976 shares of the company’s stock valued at $725,000 after acquiring an additional 365 shares during the period. Finally, Boston Trust Walden Corp grew its stake in Colgate-Palmolive by 4.8% in the second quarter. Boston Trust Walden Corp now owns 239,099 shares of the company’s stock valued at $21,734,000 after acquiring an additional 10,961 shares during the period. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CL shares. Morgan Stanley dropped their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Bank of America cut their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a research note on Friday. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $92.21.

Colgate-Palmolive Price Performance

NYSE CL opened at $78.43 on Wednesday. The firm’s 50 day moving average is $82.34 and its 200-day moving average is $87.67. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The company has a market capitalization of $63.39 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 4.24 and a beta of 0.34. Colgate-Palmolive Company has a 12-month low of $76.68 and a 12-month high of $102.61.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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 issued a dividend of $0.52 per share. 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 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.