Arista Wealth Management LLC Takes $571,000 Position in Colgate-Palmolive Company $CL

Key Points

• Arista Wealth Management LLC acquired a new stake in Colgate-Palmolive Company with a value of approximately $571,000 during the second quarter.
• Colgate-Palmolive reported a quarterly EPS of $0.92, exceeding expectations, and total revenue of $5.11 billion, marking a 1.0% increase year-over-year.
• The company recently declared a quarterly dividend of $0.52 per share, with a total annualized payout of $2.08, reflecting a dividend yield of 2.6%.

Arista Wealth Management LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,280 shares of the company's stock, valued at approximately $571,000.

Several other hedge funds also recently modified their holdings of the business. Personal CFO Solutions LLC bought a new position in Colgate-Palmolive in the first quarter worth $285,000. Vision Capital Management Inc. bought a new position in Colgate-Palmolive in the first quarter worth $322,000. Financial Gravity Asset Management Inc. bought a new position in Colgate-Palmolive in the first quarter worth $2,166,000. Penserra Capital Management LLC lifted its position in Colgate-Palmolive by 398.6% in the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock worth $997,000 after purchasing an additional 8,515 shares during the period. Finally, Pure Financial Advisors LLC lifted its position in Colgate-Palmolive by 57.1% in the first quarter. Pure Financial Advisors LLC now owns 7,942 shares of the company's stock worth $744,000 after purchasing an additional 2,886 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $79.14 on Friday. The stock has a 50-day simple moving average of $81.96 and a 200 day simple moving average of $87.39. 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 12-month low of $76.68 and a 12-month high of $100.54. The stock has a market capitalization of $63.96 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 4.58 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's payout ratio is currently 58.43%.

Analysts Set New Price Targets

Several research analysts recently commented on CL shares. Citigroup reduced their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. UBS Group cut their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, October 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Barclays cut their price objective 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. Finally, Wells Fargo & Company cut their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a report on Thursday, September 25th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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