Colgate-Palmolive Company $CL Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Colgate-Palmolive by 21.8%, owning 15,761 shares valued at approximately $1.43 million after the sale.
• Colgate-Palmolive reported a $0.92 earnings per share for the last quarter, surpassing analysts' estimates of $0.89, with a revenue increase of 1.0% year-over-year.
• The company declared a quarterly dividend of $0.52 per share, translating to an annualized yield of 2.7%, to be paid on November 14th.

Prime Capital Investment Advisors LLC cut its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 21.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,761 shares of the company's stock after selling 4,405 shares during the period. Prime Capital Investment Advisors LLC's holdings in Colgate-Palmolive were worth $1,433,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Relyea Zuckerberg Hanson LLC raised its holdings in Colgate-Palmolive by 3.9% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 3,833 shares of the company's stock valued at $348,000 after acquiring an additional 143 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Colgate-Palmolive by 3.5% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 42,196 shares of the company's stock valued at $3,836,000 after acquiring an additional 1,411 shares during the last quarter. Grimes & Company Inc. raised its holdings in Colgate-Palmolive by 1.0% in the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company's stock valued at $1,136,000 after acquiring an additional 118 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Colgate-Palmolive by 9.5% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 2,485 shares of the company's stock valued at $226,000 after acquiring an additional 215 shares during the last quarter. Finally, Beacon Financial Advisory LLC raised its holdings in Colgate-Palmolive by 6.6% in the 2nd quarter. Beacon Financial Advisory LLC now owns 11,841 shares of the company's stock valued at $1,076,000 after acquiring an additional 738 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 1.5%

Shares of Colgate-Palmolive stock opened at $77.96 on Thursday. The company has a fifty day moving average price of $82.79 and a 200 day moving average price of $88.08. 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 twelve month low of $77.09 and a twelve month high of $102.61. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm's revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's dividend payout ratio is 58.43%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CL. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a "neutral" rating and a $84.00 price target for the company. Morgan Stanley lowered their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Barclays lowered their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. Citigroup lowered their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Finally, Wells Fargo & Company lowered their price objective 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. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.23.

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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