Colgate-Palmolive Company $CL Position Lessened by Golden State Equity Partners

Key Points

• Golden State Equity Partners significantly reduced its stake in Colgate-Palmolive by 76.8% during the 2nd quarter, now holding 2,827 shares worth $257,000.
• Colgate-Palmolive reported $0.92 EPS for the last quarter, surpassing analyst expectations, with a 1.0% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.52 per share, translating to an annualized dividend yield of 2.6%, payable on November 14th.

Golden State Equity Partners decreased its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 76.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,827 shares of the company's stock after selling 9,340 shares during the period. Golden State Equity Partners' holdings in Colgate-Palmolive were worth $257,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $216,000. Foster Group Inc. increased its position in Colgate-Palmolive by 8.3% in the 2nd quarter. Foster Group Inc. now owns 3,673 shares of the company's stock valued at $334,000 after acquiring an additional 281 shares during the period. KFG Wealth Management LLC increased its position in Colgate-Palmolive by 20.3% in the 2nd quarter. KFG Wealth Management LLC now owns 10,626 shares of the company's stock valued at $966,000 after acquiring an additional 1,791 shares during the period. GAMMA Investing LLC increased its position in Colgate-Palmolive by 22.4% in the 2nd quarter. GAMMA Investing LLC now owns 14,437 shares of the company's stock valued at $1,312,000 after acquiring an additional 2,640 shares during the period. Finally, Lewis Asset Management LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $209,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $80.11 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock has a market capitalization of $64.74 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 4.13 and a beta of 0.35. The stock's fifty day simple moving average is $84.62 and its 200 day simple moving average is $88.99. Colgate-Palmolive Company has a 52-week low of $78.76 and a 52-week high of $104.49.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion for 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%.The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced 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 is Friday, October 17th. Colgate-Palmolive's payout ratio is presently 58.43%.

Analysts Set New Price Targets

Several analysts recently commented on CL shares. UBS Group lowered their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Barclays lifted their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Citigroup lowered their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

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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