Colgate-Palmolive Company $CL Shares Acquired by SPC Financial Inc.

SPC Financial Inc. boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,815 shares of the company’s stock after acquiring an additional 300 shares during the period. SPC Financial Inc.’s holdings in Colgate-Palmolive were worth $347,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Westend Capital Management LLC grew its stake in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in Colgate-Palmolive during the 1st quarter valued at about $29,000. Ransom Advisory Ltd purchased a new stake in Colgate-Palmolive during the 1st quarter valued at about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Colgate-Palmolive during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CL shares. Citigroup dropped their price objective 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. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Bank of America dropped 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, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a research note on Friday. Finally, Morgan Stanley dropped 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. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $77.99 on Monday. The firm’s 50 day moving average price is $82.56 and its 200-day moving average price is $87.84. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a one year low of $77.09 and a one year high of $102.61. The firm has a market cap of $63.03 billion, a P/E ratio of 21.91, a P/E/G ratio of 4.29 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.

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.