Arrowroot Family Office LLC Takes Position in Colgate-Palmolive Company $CL

Arrowroot Family Office LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,961 shares of the company’s stock, valued at approximately $1,360,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ellevest Inc. lifted its position in Colgate-Palmolive by 7.9% during the 2nd quarter. Ellevest Inc. now owns 5,780 shares of the company’s stock worth $525,000 after acquiring an additional 422 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in Colgate-Palmolive by 0.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 35,796 shares of the company’s stock worth $3,254,000 after acquiring an additional 173 shares in the last quarter. NewSquare Capital LLC lifted its position in Colgate-Palmolive by 103.7% during the 2nd quarter. NewSquare Capital LLC now owns 778 shares of the company’s stock worth $71,000 after acquiring an additional 396 shares in the last quarter. Huntington National Bank lifted its position in Colgate-Palmolive by 6.0% during the 2nd quarter. Huntington National Bank now owns 189,900 shares of the company’s stock worth $17,262,000 after acquiring an additional 10,744 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

CL stock opened at $76.53 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The stock’s 50 day moving average is $80.11 and its two-hundred day moving average is $86.00. The company has a market capitalization of $61.86 billion, a PE ratio of 21.50, a P/E/G ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the business earned $0.91 EPS. Colgate-Palmolive’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts predict 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. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.26%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays reduced their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James Financial reduced their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research report on Friday, October 10th. Bank of America dropped their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, UBS Group dropped their price objective on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.87.

About Colgate-Palmolive

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.