GC Wealth Management RIA LLC Makes New $673,000 Investment in Colgate-Palmolive Company $CL

Key Points

• GC Wealth Management RIA LLC invested $673,000 in Colgate-Palmolive by acquiring 7,399 shares during the second quarter.
• Colgate-Palmolive's stock received mixed reviews from analysts, with price targets ranging from $80.00 to $109.00, and a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.52 per share, representing an annual yield of 2.6% and a payout ratio of 58.43%.

GC Wealth Management RIA LLC bought a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,399 shares of the company's stock, valued at approximately $673,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 0.6% in the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock valued at $7,660,749,000 after purchasing an additional 455,198 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 18.3% in the first 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 purchasing an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the period. Deutsche Bank AG boosted its holdings in Colgate-Palmolive by 3.7% in the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock valued at $672,447,000 after purchasing an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Colgate-Palmolive by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company's stock valued at $653,761,000 after purchasing an additional 177,833 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CL shares. Barclays lifted their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. decreased their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a report on Thursday, September 25th. UBS Group decreased their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Citigroup decreased their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.73.

Colgate-Palmolive Stock Down 0.5%

CL opened at $80.00 on Wednesday. The business's 50-day simple moving average is $83.89 and its 200-day simple moving average is $88.56. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a one year low of $78.76 and a one year high of $103.82. The stock has a market capitalization of $64.66 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 4.18 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's payout ratio is 58.43%.

Colgate-Palmolive 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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