Farther Finance Advisors LLC Buys 10,241 Shares of Colgate-Palmolive Company $CL

Key Points

• Farther Finance Advisors LLC increased its stake in Colgate-Palmolive by 25.1%, acquiring an additional 10,241 shares during the second quarter, bringing its total holdings to 50,982 shares valued at approximately $4.63 million.
• Colgate-Palmolive's recent performance showed an earnings per share of $0.92 for the last quarter, surpassing expectations, with quarterly revenue reaching $5.11 billion, up 1.0% from the previous year.
• The company declared a quarterly dividend of $0.52 per share, set to be paid on November 14, with a current dividend yield of 2.6%.

Farther Finance Advisors LLC lifted its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 25.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,982 shares of the company's stock after acquiring an additional 10,241 shares during the quarter. Farther Finance Advisors LLC's holdings in Colgate-Palmolive were worth $4,634,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $29,000. Vermillion Wealth Management Inc. bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $31,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $33,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Morgan Stanley cut their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Barclays lifted 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. Citigroup decreased their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Finally, Wells Fargo & Company reduced their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE CL opened at $81.23 on Friday. The stock's fifty day simple moving average is $84.97 and its two-hundred day simple moving average is $89.20. 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 12-month low of $81.01 and a 12-month high of $104.49. The stock has a market capitalization of $65.65 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.22 and a beta of 0.35.

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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The business's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company 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 2.6%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

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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