Colgate-Palmolive Company $CL Shares Acquired by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Colgate-Palmolive by 7.1%, owning 81,142 shares worth approximately $7.37 million following the purchase of an additional 5,370 shares.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding analysts' expectations of $0.89, with revenue of $5.11 billion.
• The company announced a quarterly dividend of $0.52 per share, which will be paid on November 14th, representing an annualized yield of 2.6%.

HB Wealth Management LLC boosted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,142 shares of the company's stock after buying an additional 5,370 shares during the period. HB Wealth Management LLC's holdings in Colgate-Palmolive were worth $7,376,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CL. Westend Capital Management LLC raised its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after purchasing an additional 287 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $29,000. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Colgate-Palmolive during the first quarter worth $37,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.5%

NYSE:CL opened at $80.00 on Wednesday. The business's 50-day moving average is $83.89 and its two-hundred day moving average is $88.56. The firm has a market capitalization of $64.66 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 4.18 and a beta of 0.35. Colgate-Palmolive Company has a 12 month low of $78.76 and a 12 month high of $103.82. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its 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. 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 revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. Research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed 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 is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive's payout ratio is currently 58.43%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CL. Wells Fargo & Company lowered their target price on shares of Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Morgan Stanley reduced their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Citigroup decreased their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Finally, Barclays increased their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.73.

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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