Sagespring Wealth Partners LLC Increases Holdings in Colgate-Palmolive Company $CL

Sagespring Wealth Partners LLC boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.8% in the second quarter, Holdings Channel reports. The fund owned 7,976 shares of the company’s stock after purchasing an additional 365 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $725,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of CL. Vanguard Group Inc. increased its position in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after purchasing an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after buying an additional 2,045,191 shares during the last quarter. Deutsche Bank AG increased its holdings in Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after buying an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock valued at $653,761,000 after buying an additional 177,833 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group reduced their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup reduced their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Barclays reduced 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 report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.21.

Colgate-Palmolive Stock Performance

CL opened at $77.67 on Thursday. The stock has a market capitalization of $62.77 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 4.60 and a beta of 0.34. The company has a fifty day moving average of $82.20 and a 200 day moving average of $87.60. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $101.89. 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 (NYSE:CL) last posted its earnings results 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. The company had revenue of $5.11 billion during 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%. Colgate-Palmolive’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 (DPR) is currently 58.43%.

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.