Colgate-Palmolive Company $CL Shares Bought by SPC Financial Inc.

SPC Financial Inc. boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,815 shares of the company’s stock after buying an additional 300 shares during the quarter. SPC Financial Inc.’s holdings in Colgate-Palmolive were worth $347,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC increased its position in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $29,000. Ransom Advisory Ltd purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $33,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $37,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 0.2%

CL stock opened at $77.99 on Monday. Colgate-Palmolive Company has a one year low of $77.09 and a one year high of $102.61. The stock has a market capitalization of $63.03 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.29 and a beta of 0.34. 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 company has a fifty day moving average of $82.56 and a 200-day moving average of $87.84.

Colgate-Palmolive (NYSE:CL) last released its 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. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the business earned $0.91 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, analysts expect 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. Stockholders of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CL shares. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. UBS Group lowered their price objective on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Citigroup lowered their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.21.

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.