Cerro Pacific Wealth Advisors LLC Lowers Position in Colgate-Palmolive Company $CL

Cerro Pacific Wealth Advisors LLC lessened its position in Colgate-Palmolive Company (NYSE:CL) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,862 shares of the company’s stock after selling 351 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Colgate-Palmolive were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CL. Brighton Jones LLC lifted its stake 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. GAMMA Investing LLC lifted its stake in shares of Colgate-Palmolive by 14.2% in the 1st quarter. GAMMA Investing LLC now owns 11,797 shares of the company’s stock valued at $1,105,000 after purchasing an additional 1,468 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in shares of Colgate-Palmolive by 65.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 3,329 shares of the company’s stock valued at $312,000 after purchasing an additional 1,321 shares during the period. Elevation Point Wealth Partners LLC lifted its stake in shares of Colgate-Palmolive by 8.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 3,572 shares of the company’s stock valued at $335,000 after purchasing an additional 273 shares during the period. Finally, CVA Family Office LLC lifted its stake in shares of Colgate-Palmolive by 5.9% in the 1st quarter. CVA Family Office LLC now owns 3,219 shares of the company’s stock valued at $302,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.2%

Colgate-Palmolive stock opened at $77.99 on Monday. The firm has a market cap of $63.03 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.29 and a beta of 0.34. The stock has a fifty day simple moving average of $82.56 and a two-hundred day simple moving average of $87.84. Colgate-Palmolive Company has a 12 month low of $77.09 and a 12 month high of $102.61. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America lowered their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, UBS Group lowered 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. Eight equities 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.21.

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.