Blair William & Co. IL Sells 7,901 Shares of Colgate-Palmolive Company $CL

Key Points

• Blair William & Co. IL reduced its stake in Colgate-Palmolive by 3.1%, selling 7,901 shares and leaving it with 245,668 shares valued at $22.33 million.
• Colgate-Palmolive reported $0.92 earnings per share for the last quarter, surpassing expectations of $0.89, along with revenues reaching $5.11 billion, higher than the forecast of $5.03 billion.
• The company announced a quarterly dividend of $0.52 per share, with an annualized yield of 2.7%, set to be paid to investors on November 14th.

Blair William & Co. IL lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,668 shares of the company's stock after selling 7,901 shares during the quarter. Blair William & Co. IL's holdings in Colgate-Palmolive were worth $22,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Leo Wealth LLC raised its stake in Colgate-Palmolive by 71.2% in the second quarter. Leo Wealth LLC now owns 15,945 shares of the company's stock valued at $1,449,000 after buying an additional 6,632 shares during the last quarter. Armstrong Fleming & Moore Inc purchased a new stake in Colgate-Palmolive in the second quarter valued at about $271,000. Maryland State Retirement & Pension System raised its stake in Colgate-Palmolive by 2.8% in the second quarter. Maryland State Retirement & Pension System now owns 39,075 shares of the company's stock valued at $3,552,000 after buying an additional 1,076 shares during the last quarter. Massachusetts Wealth Management raised its stake in Colgate-Palmolive by 1.8% in the second quarter. Massachusetts Wealth Management now owns 12,822 shares of the company's stock valued at $1,166,000 after buying an additional 225 shares during the last quarter. Finally, Valmark Advisers Inc. raised its stake in Colgate-Palmolive by 2.2% in the second quarter. Valmark Advisers Inc. now owns 10,588 shares of the company's stock valued at $962,000 after buying an additional 232 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.2%

Shares of CL stock opened at $77.82 on Friday. The stock has a 50 day moving average of $82.67 and a 200 day moving average of $87.99. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The stock has a market cap of $62.90 billion, a P/E ratio of 21.86, a P/E/G ratio of 4.05 and a beta of 0.34. Colgate-Palmolive Company has a twelve month low of $77.09 and a twelve month high of $102.61.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive's quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Analyst Ratings Changes

CL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. The Goldman Sachs Group reduced their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Morgan Stanley reduced their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a research note on Thursday, September 25th. Finally, Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a "neutral" rating and a $84.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $93.23.

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.

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