Colgate-Palmolive Company $CL Shares Bought by Salomon & Ludwin LLC

Key Points

• Salomon & Ludwin LLC significantly increased its holdings in Colgate-Palmolive by 840.6% during the second quarter, bringing their total shares to 9,763 valued at approximately $902,000.
• Colgate-Palmolive's shares saw a slight increase of 1.4%, with the stock currently priced at $79.14, and analysts predict an average target price of $92.21.
• The company declared a quarterly dividend of $0.52 per share, with a yield of 2.6%, to be paid on November 14th to shareholders of record as of October 17th.

Salomon & Ludwin LLC boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 840.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,763 shares of the company's stock after buying an additional 8,725 shares during the period. Salomon & Ludwin LLC's holdings in Colgate-Palmolive were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Citigroup cut their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a "neutral" rating and a $84.00 price target on the stock. Wells Fargo & Company cut their price target on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $95.00 to $88.00 and set an "overweight" rating on the stock in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Moderate Buy" and an average target price of $92.21.

Colgate-Palmolive Stock Up 1.4%

Shares of CL opened at $79.14 on Friday. Colgate-Palmolive Company has a 52 week low of $76.68 and a 52 week high of $100.54. 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 company has a market capitalization of $63.96 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 4.64 and a beta of 0.34. The stock's 50-day moving average price is $81.96 and its 200-day moving average price is $87.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly 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 company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. 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 dividend payout ratio is currently 58.43%.

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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