Ritholtz Wealth Management Purchases 3,544 Shares of Colgate-Palmolive Company $CL

Key Points

• Ritholtz Wealth Management increased its position in Colgate-Palmolive by 5.8%, owning a total of 65,175 shares valued at $5.92 million after purchasing an additional 3,544 shares.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52 per share, with a yield of 2.7%, set to be paid on November 14th to shareholders of record on October 17th.
• Analysts have assigned a consensus rating of "Moderate Buy" for Colgate-Palmolive, with a price target averaging $92.21, showing positive sentiment despite recent reductions from some firms.

Ritholtz Wealth Management increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,175 shares of the company's stock after purchasing an additional 3,544 shares during the quarter. Ritholtz Wealth Management's holdings in Colgate-Palmolive were worth $5,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC raised its stake in shares of Colgate-Palmolive by 1.2% in the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after acquiring an additional 110 shares during the last quarter. Grimes & Company Inc. raised its position in Colgate-Palmolive by 1.0% in the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company's stock valued at $1,136,000 after purchasing an additional 118 shares during the last quarter. RFG Advisory LLC boosted its stake in Colgate-Palmolive by 1.4% in the second quarter. RFG Advisory LLC now owns 9,227 shares of the company's stock worth $839,000 after purchasing an additional 123 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in Colgate-Palmolive by 2.4% in the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company's stock worth $497,000 after purchasing an additional 129 shares in the last quarter. Finally, MONECO Advisors LLC grew its holdings in shares of Colgate-Palmolive by 2.2% during the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company's stock worth $567,000 after purchasing an additional 133 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CL has been the subject of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Bank of America decreased their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. Barclays dropped their price objective 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. UBS Group reduced their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, October 8th. Finally, Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a "neutral" rating and a $84.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.21.

Colgate-Palmolive Trading Up 1.9%

Shares of NYSE CL opened at $78.43 on Wednesday. The company's 50 day simple moving average is $82.34 and its 200 day simple moving average is $87.67. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $102.61. The firm has a market capitalization of $63.39 billion, a P/E ratio of 22.03, a P/E/G ratio of 4.24 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released 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. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. On average, analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.7%. Colgate-Palmolive's dividend payout ratio is presently 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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