Wealth Enhancement Advisory Services LLC Increases Holdings in Colgate-Palmolive Company $CL

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Colgate-Palmolive by 5.9% during the second quarter, owning 349,177 shares valued at approximately $32.4 million.
• Colgate-Palmolive plans to pay a quarterly dividend of $0.52 per share on November 14th, with a current annualized yield of 2.6%.
• Analysts have a mixed outlook on Colgate-Palmolive, with a consensus price target of $98.00 as several firms adjusted their ratings in recent reports.

Wealth Enhancement Advisory Services LLC increased its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 349,177 shares of the company's stock after acquiring an additional 19,351 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Colgate-Palmolive were worth $32,397,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CL. Westend Capital Management LLC lifted its stake in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake 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 in the last quarter. Saudi Central Bank acquired a new position in Colgate-Palmolive during the first quarter worth $29,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth $31,000. Finally, Ransom Advisory Ltd acquired a new position in Colgate-Palmolive during the first quarter worth $33,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.0%

CL traded up $0.02 during trading on Tuesday, hitting $79.38. The company's stock had a trading volume of 1,045,165 shares, compared to its average volume of 5,209,300. The firm's 50 day moving average price is $84.78 and its 200-day moving average price is $89.05. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The stock has a market cap of $64.15 billion, a PE ratio of 22.30, a PEG ratio of 4.22 and a beta of 0.35. Colgate-Palmolive Company has a twelve month low of $78.76 and a twelve month high of $104.49.

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

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive's payout ratio is currently 58.43%.

Analyst Ratings Changes

CL has been the topic of a number of research reports. Morgan Stanley decreased their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Barclays increased their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. Finally, Citigroup reduced their price objective 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. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.