Colgate-Palmolive Company $CL Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in Colgate-Palmolive by 20.6% in the first quarter, bringing its holdings to 34,567 shares valued at approximately $3.24 million.
• Colgate-Palmolive reported a quarterly earnings per share of $0.92, exceeding estimates of $0.89, and recorded revenue of $5.11 billion, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.52 per share, representing a 2.5% yield, with a payout ratio of 58.43%.

Kestra Advisory Services LLC decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,567 shares of the company's stock after selling 8,960 shares during the quarter. Kestra Advisory Services LLC's holdings in Colgate-Palmolive were worth $3,239,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CL. Westend Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 140 shares during the period. Cornerstone Planning Group LLC raised its position in shares of 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 period. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $31,000. Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $36,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 0.3%

NYSE:CL opened at $84.37 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30. The business's fifty day moving average price is $87.32 and its 200 day moving average price is $89.86. The firm has a market capitalization of $68.19 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.38 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $0.91 EPS. The business's revenue was up 1.0% compared to the same quarter last year. On average, 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 company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CL. Barclays boosted their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley cut 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. UBS Group dropped their price target 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. Wells Fargo & Company dropped 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. Finally, JPMorgan Chase & Co. dropped their price target 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. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.92.

Colgate-Palmolive Company 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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