Simplicity Wealth LLC Purchases 15,470 Shares of Colgate-Palmolive Company $CL

Key Points

• Simplicity Wealth LLC increased its holdings in Colgate-Palmolive by 102.7%, acquiring an additional 15,470 shares, bringing its total to 30,534 shares valued at approximately $2.78 million.
• Colgate-Palmolive's recent earnings report revealed earnings per share of $0.92, surpassing estimates, and a net margin of 14.55% with year-over-year revenue growth of 1%.
• The company announced a quarterly dividend of $0.52 per share, which will be paid on November 14th, representing an annualized yield of 2.7%.

Simplicity Wealth LLC grew its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 102.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,534 shares of the company's stock after buying an additional 15,470 shares during the quarter. Simplicity Wealth LLC's holdings in Colgate-Palmolive were worth $2,775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Westend Capital Management LLC lifted its position in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC raised its stake in Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in Colgate-Palmolive during the first quarter worth $29,000. Ransom Advisory Ltd bought a new stake in Colgate-Palmolive during the 1st quarter valued at $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CL shares. UBS Group dropped their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Barclays lowered 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 note on Wednesday. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. Citigroup cut their price target 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. Finally, Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Friday. They set a "neutral" rating and a $84.00 price target on the stock. Seven 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $94.83.

Colgate-Palmolive Trading Down 0.4%

Shares of CL stock opened at $78.01 on Monday. Colgate-Palmolive Company has a fifty-two week low of $77.91 and a fifty-two week high of $102.61. 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 stock's fifty day moving average is $83.29 and its two-hundred day moving average is $88.30. The firm has a market capitalization of $63.05 billion, a P/E ratio of 21.91, a PEG ratio of 4.06 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly 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. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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