Colgate-Palmolive Company $CL Holdings Trimmed by Zhang Financial LLC

Zhang Financial LLC lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,258 shares of the company’s stock after selling 437 shares during the quarter. Zhang Financial LLC’s holdings in Colgate-Palmolive were worth $1,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CL. Brighton Jones LLC boosted its position in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the period. Golden State Wealth Management LLC lifted its stake in Colgate-Palmolive by 266.9% in the 1st quarter. Golden State Wealth Management LLC now owns 521 shares of the company’s stock worth $49,000 after acquiring an additional 379 shares in the last quarter. Amalgamated Bank lifted its stake in Colgate-Palmolive by 0.7% in the 1st quarter. Amalgamated Bank now owns 178,744 shares of the company’s stock worth $16,748,000 after acquiring an additional 1,164 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in Colgate-Palmolive by 3.1% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 12,921 shares of the company’s stock worth $1,211,000 after acquiring an additional 387 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in Colgate-Palmolive by 34.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 11,181 shares of the company’s stock worth $1,048,000 after acquiring an additional 2,889 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.9%

Shares of CL stock opened at $77.10 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. The stock’s 50 day simple moving average is $81.03 and its 200 day simple moving average is $86.71. The company has a market capitalization of $62.31 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 4.57 and a beta of 0.34. Colgate-Palmolive Company has a twelve month low of $76.68 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued 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 company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CL. Barclays reduced their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. UBS Group reduced their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. 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 report on Thursday, September 25th. The Goldman Sachs Group reduced their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Eight research 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 data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

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.