Belpointe Asset Management LLC Sells 2,294 Shares of Colgate-Palmolive Company $CL

Belpointe Asset Management LLC lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 20.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,153 shares of the company’s stock after selling 2,294 shares during the quarter. Belpointe Asset Management LLC’s holdings in Colgate-Palmolive were worth $832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC lifted its position in shares of Colgate-Palmolive by 3.5% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 42,196 shares of the company’s stock worth $3,836,000 after buying an additional 1,411 shares in the last quarter. Grimes & Company Inc. lifted its position in shares of Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after buying an additional 118 shares in the last quarter. Hubbell Strickland Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 9.5% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 2,485 shares of the company’s stock worth $226,000 after buying an additional 215 shares in the last quarter. Beacon Financial Advisory LLC increased its stake in shares of Colgate-Palmolive by 6.6% during the 2nd quarter. Beacon Financial Advisory LLC now owns 11,841 shares of the company’s stock worth $1,076,000 after purchasing an additional 738 shares during the last quarter. Finally, Simplicity Wealth LLC increased its stake in shares of Colgate-Palmolive by 102.7% during the 2nd quarter. Simplicity Wealth LLC now owns 30,534 shares of the company’s stock worth $2,775,000 after purchasing an additional 15,470 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CL. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. The Goldman Sachs Group decreased their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Bank of America decreased their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Citigroup decreased their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.23.

Colgate-Palmolive Stock Down 1.5%

Colgate-Palmolive stock opened at $77.96 on Thursday. Colgate-Palmolive Company has a 1-year low of $77.09 and a 1-year high of $102.61. The firm has a market capitalization of $63.01 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 4.11 and a beta of 0.34. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a 50 day simple moving average of $82.79 and a 200 day simple moving average of $88.08.

Colgate-Palmolive (NYSE:CL) last released 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 business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the business earned $0.91 EPS. Colgate-Palmolive’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is 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.