Koa Wealth Management LLC Purchases New Position in Colgate-Palmolive Company $CL

Key Points

• Koa Wealth Management LLC has acquired a new position in Colgate-Palmolive Company, purchasing 9,253 shares valued at approximately $841,000 during the second quarter.
• Recent analyst ratings have seen price objectives for Colgate-Palmolive adjusted downward by firms such as Morgan Stanley and Bank of America, with the average price target now at $92.21 and a consensus rating of "Moderate Buy."
• Colgate-Palmolive has declared a quarterly dividend of $0.52, which will be paid on November 14th, representing an annualized dividend yield of 2.7%.

Koa Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,253 shares of the company's stock, valued at approximately $841,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC bought a new position in Colgate-Palmolive during the first quarter valued at approximately $285,000. Vision Capital Management Inc. bought a new position in Colgate-Palmolive during the first quarter valued at approximately $322,000. Autumn Glory Partners LLC boosted its stake in Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after buying an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in Colgate-Palmolive during the first quarter valued at approximately $2,166,000. Finally, Penserra Capital Management LLC boosted its stake in Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock valued at $997,000 after buying an additional 8,515 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CL. Morgan Stanley decreased their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Citigroup decreased their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Bank of America decreased their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating on the stock in a research report on Wednesday, October 8th. 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 research note on Thursday, September 25th. Finally, The Goldman Sachs Group decreased their price target on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and an average price target of $92.21.

Colgate-Palmolive Stock Up 0.6%

Shares of NYSE:CL opened at $78.13 on Friday. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $101.89. The stock has a market cap of $63.15 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 4.55 and a beta of 0.34. The business's 50 day moving average is $82.07 and its 200 day moving average is $87.49. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

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 (EPS) 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 company had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business 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 $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 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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