Ethic Inc. Sells 5,647 Shares of Colgate-Palmolive Company $CL

Key Points

• Ethic Inc. reduced its holdings in Colgate-Palmolive by 4.3%, selling 5,647 shares for a total of 125,336 shares worth approximately $11.1 million as per its latest SEC filing.
• Colgate-Palmolive reported a net revenue of $5.11 billion for the quarter, exceeding analyst expectations and achieving earnings per share of $0.92, above the anticipated $0.89.
• The company announced a quarterly dividend of $0.52 per share, with a yield of 2.6%, set to be paid to shareholders on November 14th, after an ex-dividend date of October 17th.

Ethic Inc. lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,336 shares of the company's stock after selling 5,647 shares during the quarter. Ethic Inc.'s holdings in Colgate-Palmolive were worth $11,119,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management increased its stake in shares of Colgate-Palmolive by 5.7% in the second quarter. Brookstone Capital Management now owns 125,137 shares of the company's stock worth $11,375,000 after buying an additional 6,698 shares during the period. D.A. Davidson & CO. raised its holdings in Colgate-Palmolive by 1.1% in the 2nd quarter. D.A. Davidson & CO. now owns 113,322 shares of the company's stock worth $10,301,000 after acquiring an additional 1,231 shares during the last quarter. Fiduciary Family Office LLC raised its position in Colgate-Palmolive by 2.2% in the 2nd quarter. Fiduciary Family Office LLC now owns 9,075 shares of the company's stock worth $825,000 after buying an additional 195 shares during the last quarter. Advantage Trust Co lifted its holdings in shares of Colgate-Palmolive by 60.2% during the 2nd quarter. Advantage Trust Co now owns 798 shares of the company's stock valued at $73,000 after buying an additional 300 shares during the period. Finally, Divergent Planning LLC purchased a new position in shares of Colgate-Palmolive in the second quarter worth approximately $2,053,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $78.87 on Wednesday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company has a market capitalization of $63.74 billion, a PE ratio of 22.10, a P/E/G ratio of 4.62 and a beta of 0.34. The company has a 50 day moving average price of $81.72 and a 200-day moving average price of $87.13. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $100.18.

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 business 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 business earned $0.91 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. 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 (DPR) is presently 58.43%.

Analysts Set New Price Targets

CL has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a report on Thursday, September 25th. Bank of America reduced their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating on the stock in a research report on Wednesday, October 8th. Barclays dropped their target price on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $95.00 to $88.00 and set an "overweight" rating on the stock in a research note on Friday, October 10th. Finally, Citigroup cut their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Eight equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.50.

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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