RWA Wealth Partners LLC Sells 63,763 Shares of Colgate-Palmolive Company $CL

RWA Wealth Partners LLC reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 25.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,083 shares of the company’s stock after selling 63,763 shares during the quarter. RWA Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $16,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Westside Investment Management Inc. raised its stake in shares of Colgate-Palmolive by 85.5% during the second 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. Cornerstone Planning Group LLC increased its stake in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank bought a new stake in Colgate-Palmolive in the first quarter valued at approximately $29,000. Ransom Advisory Ltd purchased a new stake in Colgate-Palmolive during the 1st quarter valued at $33,000. Finally, Y.D. More Investments Ltd bought a new stake in Colgate-Palmolive in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the topic of several recent analyst reports. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target on the stock. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Citigroup lowered their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Monday. Evercore ISI cut their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Bank of America decreased their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Trading Up 1.9%

Colgate-Palmolive stock opened at $78.76 on Friday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The stock has a market capitalization of $63.48 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. The business’s fifty day moving average is $79.73 and its 200 day moving average is $85.77.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the company earned $0.91 EPS. Colgate-Palmolive’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is currently 58.26%.

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.