Cerro Pacific Wealth Advisors LLC Lowers Position in Colgate-Palmolive Company $CL

Cerro Pacific Wealth Advisors LLC lowered its holdings in Colgate-Palmolive Company (NYSE:CL) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,862 shares of the company’s stock after selling 351 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Colgate-Palmolive were worth $260,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Personal CFO Solutions LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $285,000. Vision Capital Management Inc. bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $322,000. Autumn Glory Partners LLC increased its position in shares of Colgate-Palmolive by 67.4% during the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock valued at $851,000 after purchasing an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $2,166,000. Finally, Penserra Capital Management LLC increased its position in shares of Colgate-Palmolive by 398.6% during the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after purchasing an additional 8,515 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 0.2%

NYSE CL opened at $77.99 on Monday. Colgate-Palmolive Company has a fifty-two week low of $77.09 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 has a 50 day simple moving average of $82.56 and a two-hundred day simple moving average of $87.84. The stock has a market cap of $63.03 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 4.29 and a beta of 0.34.

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, 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 annualized dividend and a yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CL shares. Morgan Stanley reduced 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. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday. Barclays reduced their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Bank of America reduced their price target 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. Finally, The Goldman Sachs Group reduced their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $92.21.

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.