Colgate-Palmolive Company $CL Stake Boosted by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC significantly increased its stake in Colgate-Palmolive Company by 267.5%, owning 8,206 shares valued at approximately $769,000 following the purchase of 5,973 additional shares.
• Multiple institutional investors, including Vanguard Group Inc. and Goldman Sachs Group, have also increased their stakes, maintaining a combined ownership of 80.41% of the company's stock.
• Colgate-Palmolive has recently reported an earnings per share (EPS) of $0.92, exceeding analysts' expectations, while declaring a quarterly dividend of $0.52 per share to be paid in November.

Modern Wealth Management LLC increased its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 267.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,206 shares of the company's stock after purchasing an additional 5,973 shares during the quarter. Modern Wealth Management LLC's holdings in Colgate-Palmolive were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Colgate-Palmolive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock worth $7,660,749,000 after purchasing an additional 455,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Deutsche Bank AG grew its stake in Colgate-Palmolive by 3.7% during the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock valued at $672,447,000 after acquiring an additional 253,604 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Colgate-Palmolive by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company's stock valued at $653,761,000 after acquiring an additional 177,833 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

CL has been the topic of several research analyst reports. Morgan Stanley lowered their target price 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. Citigroup lowered their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Barclays boosted their price target 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 lowered their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Finally, UBS Group lowered their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Stock Down 0.8%

Shares of Colgate-Palmolive stock opened at $83.35 on Friday. The stock has a market capitalization of $67.37 billion, a P/E ratio of 23.41, a PEG ratio of 4.37 and a beta of 0.35. 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 stock has a 50 day moving average price of $85.95 and a two-hundred day moving average price of $89.54. Colgate-Palmolive Company has a 12-month low of $82.29 and a 12-month high of $106.26.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its 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 firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations 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 was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued 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 dividend yield of 2.5%. Colgate-Palmolive's payout ratio is 58.43%.

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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